Tribosonics raises £1.5m from NPIF and Mercia to develop sensor technology
The funding was provided by NPIF - Mercia Equity Finance and Mercia's EIS funds to support new sensing solutions.
Tribosonics provides smart sensing solutions that monitor industrial machinery and components to optimise efficiency, extend plant lifespan, and reduce energy consumption. Its integrated systems combine hardware, software, and edge analytics to deliver operational insights for global industrial clients.
Sheffield-based sensor technology company Tribosonics has raised £1.5m in a seed funding round led by NPIF - Mercia Equity Finance and Mercia's EIS funds. The capital will be used to further develop the company's sensing as a service solutions, including polymerSENSE, following a 50% expansion of its local team since late 2020. This latest injection brings the firm's total funding raised to date to £2.6m.
From the founder
"We’re on an exciting growth journey as we deploy our innovative, game-changing and IP protected sensing solutions to increase value for our customers and to make a significant contribution to decarbonisation across a number of industries. It’s important to have the right investors with us on the journey and Mercia has proved to be a great partner, providing not only growth capital but also invaluable support based on its experience and understanding of what it takes to grow a tech business. We’re looking forward continuing the journey, making a real difference and further enhancing our partnership with Mercia across all fronts."
Glenn Fletcher
CEO at Tribosonics
Investor perspective
"Tribosonics is a pioneer of Industry 4.0, which will transform manufacturing through the use of connected machines. Its sensor technology offers huge potential to improve efficiency and reduce energy use, which is a key challenge for industry now. The company has maintained steady growth and built a strong blue-chip client base since the last funding round. The latest investment will allow the team to develop more novel solutions."
Will Schaffer
Investment Director, Mercia
Use of funds
- 01Continue product development
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About the company
Tribosonics
Tribosonics develops smart sensing solutions to monitor and improve industrial machinery performance.