AVID Technology is a leader in the design and manufacture of electrified powertrain components and systems for heavy-duty and high-performance electric and hybrid vehicles.
The Cramlington-based business was founded in 2004 (as Comesys Europe) and today its innovative technology is used by many leading vehicle manufacturers to improve the efficiency of their diesel engine products and enable their high performance electric, hybrid and fuel cell vehicle powertrains.
In 2016 it raised £3.4 million of funding from three investment firms: NVM Private Equity, North East Technology Fund (part of IP Group) and Downing. The investment has been used to increase engineering and manufacturing capability and capacity at its Cramlington facility to meet increasing demand.
NVM Private Equity: 2016 – present
North East Technology Fund: 2016 – present
Downing: 2016 - present
NVM PRIVATE EQUITY