IDI has designs on expansion after securing £500,000 investment

Published on Wednesday 13 May 2009 21:39

A MIDLOTHIAN company that provides online degree qualifications in design has secured six-figure funding to aid its expansion.

The Interactive Design Institute (IDI) said the second-round funding package was worth "in excess of" 500,000.

It will enable the firm to further develop its international markets and expand into new subject areas.

Formed in 2004, IDI provides degree-level courses accredited by the University of Hertfordshire and programmes in English for speakers of other languages, approved by the Scottish Qualifications Authority, via the internet.

The firm, which is based on a working farm just outside Edinburgh, has enrolled more than 300 people from 37 countries including students from Iran, China and Hungry.

Founding director Michael Stewart said: "This investment will enable us to further develop our international markets and expand into new subject areas."

The cash injection has come from a "group of international and domestic investors", including Edinburgh's Capital Angels.

Mr Stewart added: "We are delighted to welcome representatives from Capital Angels on to our board and look forward to the contribution their expertise will bring to our company."

Capital Angels director Fraser Niven added: "We are delighted to be supporting the management team at Interactive Design in their ambitions to develop their exciting business."

IDI was set-up by four former further education managers, including Stewart.