An equity fund managed by Mercia Ventures and part of the Northern Powerhouse Investment Fund.
The Leeds based software provider has raised £1m to develop new features and scale its international sales.
"Customers buying medical equipment will of course want to trial it first, but shipping costs can be £5,000 to £30,000 or more, not to mention the cost of sending out sales staff to demonstrate it. Sometimes equipment is damaged in transit and not every demo results in a sale."
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."
The funding round was backed by NPIF - Mercia Equity Finance, Mercia and private investors to support international expansion and team growth.
"The investment will help us to further enhance the platform to improve patient experience, create more personalised solutions and expand our team to support our internationalisation and rapid growth."
The round was led by NPIF - Mercia Equity Finance with participation from Deeptech Labs and In-Q-Tel.
"Data scientists and machine learning engineers can spend up to 80 per cent of their time sourcing, cleaning and organizing training data. Our Chameleon platform solves this challenge. This round will enable us to open up our platform to even more customers in the US, Europe and Asia-Pacific, enabling them to build AI vision solutions that better understand the way humans interact with each other and the world around them."
The Leeds-based geospatial technology firm secured backing from NPIF - Mercia Equity Finance and the Government's Future Fund.
"The SatSense founders have taken technology that was once only available to governments and research institutes and made it accessible for day to day business use. Our system is the only one that offers instant access to highly accurate, near real-time data over huge areas. The service will become all the more important given the impact of climate change. As hotter summers and wetter winters exacerbate seasonal changes in ground conditions, it will allow us to identify areas worst affected and provide warnings on infrastructure or properties at risk."
