Elements Technology Platforms raises £250k from Mercia Fund Managers to expand operations and product development.
The funding was secured from NPIF - Mercia Equity Finance to support growth, hiring, and headquarters development.
Elements Technology Platforms develops software solutions that adapt consumer technologies for use by small and micro manufacturers. The firm provides low cost hardware paired with a monthly subscription service to improve manufacturing productivity.
Elements Technology Platforms has raised £250k from Mercia Fund Managers through the Northern Powerhouse Investment Fund. The capital will be deployed to expand the team, establish a headquarters in Sheffield, and advance product development.
Founded in Sheffield, the company builds software that re-purposes consumer technologies and wearable devices for the manufacturing sector. Its model combines low-cost hardware with subscription software to help smaller businesses enhance productivity without heavy capital expenditure.
The investment represents the first external financing secured by the business. Alongside premises and personnel growth, the funds will support prototype creation and market validation.
Investor perspective
"Small and micro firms make up 90 per cent of the UK's manufacturing capacity. Joe and his team of young entrepreneurs have found a way to help them deploy the latest technology to digitize production and enhance quality and productivity."
Ashwin Kumaraswamy
Investment Director, Mercia Fund Managers
Use of funds
- 01Grow the team
- 02Continue product development
- 03Scale operations
Investors
Categories
About the company
Elements Technology Platforms
Elements Technology Platforms provides Internet of Things solutions for small and micro manufacturers.