Glasgow-based tech company Cloud Cover IT has secured backing from Scottish Enterprise and UK Steel and Business Loans Scotland to develop its Smart Factory software solution and expand its operations.

Scottish Enterprise has awarded a total of £154,069 in Regional Selective Assistance (RSA) and Innovation Grant funding. In addition, UK Steel and Business Loans Scotland has contributed £85,000 each in funding.

The firm, which specialises in IT solutions and infrastructure management, said it will use the funding to create new roles and boost innovation by investing in industry 4.0. It will also focus on commercialising its SharePoint solutions and work on creating cloud-enabled “smart factory” mobile apps to enhance manufacturing processes.

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Since being founded in 2012 with three staff serving 40 clients, the company has grown to a team of 26 with 150 clients worldwide. The firm aims to make an additional four hires by the end of 2019 with a focus on attracting apprentices and graduates to boost its software development and IT engineering teams.

Lance Gauld, Cloud Cover IT director, said: “We’re obviously over the moon to have secured investment funding from Scottish Enterprise to bring our Smart Factory technology to life. Industry 4.0 is already having a transformative effect across many industries.

“We’re at the forefront of this space and recognise the huge potential that exists for manufacturers. We have a very close relationship with Clyde Gateway, and we’re pleased to be able to create a notable number of new jobs in the local area to push forward with their economic regeneration remit.”

Mark Newlands, Scottish Enterprise’s regional head of partnerships for Glasgow and the West, said: “The development of industry 4.0 and smart factory technology is of increasing importance to ensure Scotland’s businesses are fit for the future, so I’m pleased that with our funding support, Cloud Cover IT is continuing to make strides in this area.”

Innovation Minister Ivan McKee said: “Projects like Cloud Cover are a great example of how innovation can bring new benefits to our communities, and I am pleased that the Scottish Enterprise grant will deliver new jobs and opportunities for the East End of Glasgow and for Scotland.

“The digital technology sector is forecast to be Scotland’s fastest-growing sector by 2024. That is why we are committed to supporting businesses and encouraging the wider public to develop their digital skills and capabilities, to make the most of the opportunities that new and changing technology will bring.”