New Motion Labs secures £1.8m to expand industrial applications for its chain technology
The funding round includes over £890k from the South West Investment Fund via The FSE Group.
£1.8M
Exeter-based company that re-engineers traditional chain and sprocket systems through its patented Enduo technology.
New Motion Labs has secured a £1.8m funding round, featuring an equity investment of over £890k from the South West Investment Fund via The FSE Group.
The capital will support business growth, drive product development, boost sales and marketing, and fund new job creation as the company targets the global industrial sector with its Enduo technology.
Investor perspective
"NML have reengineered the sprocket and chain technology for the first time in over a century with the aim of applying it to potentially thousands of industrial and manufacturing applications worldwide. The South West Investment Fund exists to support the growth of innovative businesses in the region and this deal is a great example of that."
PJ
Paul Jones
Senior Investment Manager, British Business Bank
Use of funds
- 01Continue product development
- 02Invest in sales and marketing
- 03Grow the team
- 04Expand into international markets
Investors
Categories
About the company
NM
New Motion Labs
New Motion Labs develops re-engineered chain and sprocket technology for industrial and cycling markets.
Exeter, UK—Founded 2015
£2.6MRaised