GWC led the convertible loan note to support the company expansion in the US market.
"With COVID-19 pressures accelerating data analysis and innovation adoption across the water sector, this round allows Syrinix to extend its market leading position in helping utilities reduce leaks and bursts and extend pipeline lifetimes."
The Leeds-based geospatial technology firm secured backing from NPIF - Mercia Equity Finance and the Government's Future Fund.
"The SatSense founders have taken technology that was once only available to governments and research institutes and made it accessible for day to day business use. Our system is the only one that offers instant access to highly accurate, near real-time data over huge areas. The service will become all the more important given the impact of climate change. As hotter summers and wetter winters exacerbate seasonal changes in ground conditions, it will allow us to identify areas worst affected and provide warnings on infrastructure or properties at risk."
The round was co-led by Worth Capital and Loyal VC, incorporating angel investment and a Seedrs campaign.
"I am thrilled not only to close a successful $1.5m fundraise but to share our journey and vision with over 900 investors, many who came through crowdfunding platform Seedrs. Having the backing and mentorship in the guise of Worth Capital, Loyal VC and our advisors puts us in a strong position for hypergrowth"
Bridges Fund Management backs Matrix Telematics to support safer and more efficient driving.
"We’re delighted to partner with Bridges. We were looking for an investor who not only shared our vision and ambition for the company’s growth, but also really understood our mission to improve driver safety and reduce accidents on our roads. Their experience of scaling companies like ours – plus their impact expertise in powering better outcomes – will be highly beneficial as we enter the next phase of our growth."