Plexus Innovation raises £480k seed funding from Mercia and Maven Capital Partners to expand market reach
The seed round was backed by Mercia and Maven Capital Partners to accelerate product development.
Plexus Innovation develops remote environmental monitoring technology to track temperature, humidity, and water systems. The Durham-based firm serves clients across social housing, education, and healthcare sectors.
Durham-based remote technology firm Plexus Innovation has secured £480k in seed funding to accelerate product development and expand its market reach. The investment comprises £300k from the North East Venture Fund, managed by Mercia, and £180k from the Finance Durham Fund, managed by Maven Capital Partners.
The company provides automated environmental monitoring systems that track metrics such as temperature and water compliance for clients in social housing and care. The fresh capital will allow founders Ian Murray and Steve Todd to scale operations into new sectors including manufacturing and leisure.
Investor perspective
"Plexus Innovation is on a mission to replace manual measurements and make remote monitoring the norm. The initial funding round enabled Steve and Ian to build their team and establish their presence within the social housing and care sectors. The latest investment will enable them to roll it out to a much wider range of clients."
Alex Simpson
Investment Manager, Mercia
Use of funds
- 01Continue product development
- 02Expand into international markets
Investors
Categories
About the company
Plexus Innovation
Plexus Innovation provides remote environmental monitoring technology for compliance and asset management.