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IT services provider H2O Networks has secured its second investment from Enterprise Ventures in less than a year. The company will use the undisclosed sum to recruit sales and support staff and fund its relocation.

Enterprise Ventures first invested in the company late last year. Both investments are from the Coalfields Enterprise Fund, a £10 million venture capital fund managed on behalf of the Department of Communities and Local Government.

H20, which was established in 2001, designs, installs and supports IT systems for a range of small business and corporate clients.

The company has also developed the FS Focus System, which deploys fibre optic cable through the UK’s waste water network. This allows health, education and manufacturing organisations to set up secure IT and telecom networks without the traffic disruption associated with other methods.

Enterprise Ventures manages venture capital and private equity funds from its offices in Preston and Leeds. The company offers syndicated funding packages of up to £2 million to new and existing companies based in the Midlands and the North of England.

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