Pyreos Secures £1.7M in Funding

Sensor developer Pyreos has secured £1.7 million ($2.4 million) in funding from a syndicate of new investors and existing shareholders.

The funds will be used for further commercial expansion, building on Pyreos’ recent sales growth, the start of field trials and mass-production by several customers. The syndicate was led by Perscitus Advisers Ltd. This latest investment brings the amount of funds raised by the company since 2015 to almost £7 million ($9.8 million).

Existing shareholders include Seraphim Capital, London Business Angels, Robert Bosch Venture Capital GmbH, the Scottish Investment Bank and Siemens Technology Accelerator.

Pyreos is a supplier of thin-film pyroelectric sensors used for passively sensing IR light. The devices are primarily used for gas and flame sensing, food safety and the monitoring of oil and fuel in engines.