Tribosonics secures £1.5m from NPIF and Mercia to scale product development and workforce
The Sheffield-based industrial sensor firm raised £1.5m in follow-on funding to accelerate product development and create technical jobs.
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.
Tribosonics has secured £1.5m in a seed follow-on funding round from NPIF - Mercia Equity Finance and Mercia's EIS funds. The capital will be directed towards ongoing product development, scaling market reach, and expanding its workforce in Sheffield by around 25 new roles over the next 18 months, alongside ongoing investment in its apprenticeship programme.
The company has experienced rapid commercial growth, tripling revenue over the past two years and targeting a doubling of revenue in the current financial year. Its technology serves sectors ranging from energy and composites to battery manufacturing, helping heavy industry navigate sustainability and efficiency challenges through advanced data insights.
From the founder
"Industry is facing a host of challenges such as the need to be energy efficient, sustainable and ESG compliant, reduce costs and enhance quality. Our integrated sensing solutions provide the data required to help companies to meet these challenges and achieve digital transformation. The funding will help us to drive further growth and bring our solutions to a wider global audience."
Glenn Fletcher
CEO at Tribosonics
Investor perspective
"Industry is waking up to the potential of data to improve efficiency. Process mining – the use of data to understand performance and improve processes – has become one of the fastest-growing areas in IT. Tribosonics’ technology is one of the most advanced of its type and the company has a strong management team to drive it forward. This latest investment will help it take advantage of this new and growing market."
Will Schaffer
Investment Director, Mercia
Use of funds
- 01Continue product development
- 02Grow the team
Investors
Categories
About the company
Tribosonics
Tribosonics develops smart sensing solutions to monitor and improve industrial machinery performance.