Sensoteq raises £3.1m from Maven and TechStart to scale wireless sensor technology
The investment was led by Maven Capital Partners to fund international growth and product expansion.
Share allotment filed at Companies House
Sensoteq designs and manufactures wireless sensor hardware and software for remote machine condition monitoring. The firm focuses on predicting equipment faults and improving reliability across heavy industrial environments.
Belfast-based industrial technology firm Sensoteq has secured £3.1m in funding to accelerate the global commercialisation of its wireless sensor suite. The round was led by Maven Capital Partners, with participation from TechStart Ventures, which contributed £600k.
The capital will be used to expand the company product range, strengthen customer support, and scale sales and marketing resources. Sensoteq plans to drive international expansion and roll out its machine health monitoring technology to new global markets.
Founded in 2016, Sensoteq specialises in remote wireless sensors that track industrial machinery temperature and vibration to prevent unexpected downtime. Its latest Kappa X hardware features smart wake technology and high frequency vibration range detection within a compact unit.
From the founder
"The investment by Maven adds significant scope to the next phase of business growth internationally, and we look forward to expanding our team and services worldwide to support our customers in each of our global locations."
Idir Boudaoud
Co-founder and CEO at Sensoteq
Investor perspective
"Sensoteq has developed and launched a market-leading product, giving clients access to previously unobtainable data that is invaluable in ensuring the health and ongoing performance of key production equipment. We have been hugely impressed by the global reach of the company and demand for the technology, and we are aware that customers greatly value and rely upon the technical expertise and support of the entire Sensoteq team. We look forward to working with Idir and Alan to further grow the business."
Alan Robertson
Partner, Maven
Use of funds
- 01Expand into international markets
- 02Continue product development
- 03Invest in sales and marketing
