Mercia Ventures manages regional investment vehicles including the Northern Powerhouse Investment Fund II.
The seed round was backed by Mercia and Maven Capital Partners to accelerate product development.
"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."
The funding comes from Mercia and the MEIF Proof of Concept and Early Stage Fund to prepare for a Series A round.
"Our ambitious vision started back in 2008 and is gathering real momentum, supported by this investment plus key board appointments. We are excited about our future growth potential and the opportunity to disrupt the traditional high street lettings model. We aim to make renting out your property long-term as easy as filling your holiday let on Airbnb, and become the go-to choice when renting out property."
Mercia provided the pre-seed backing through the North East Venture Fund to support software development and team expansion.
"Cybersecurity is a growing problem for businesses, particularly with the rise in home working, and it is no longer enough to rely on off-the-shelf solutions such as spam filters and firewalls. Big companies regularly stress test their network, but the cost is prohibitive for smaller firms."
The seed round will fund team expansion and technology development ahead of commercial launches in the UK and US.
"Our vision is to enable people with Parkinson’s and other neurodegenerative diseases and movement disorders to live healthier lives. NuRO could give patients and clinicians a much clearer picture of their condition, enabling treatment to be tuned accurately as needed. We’re excited to continue our work with leading hospitals and patient groups and to bring our technology to market."
The funding was provided by NPIF - Mercia Equity Finance and Mercia's EIS funds to support new sensing solutions.
"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."
