Pyreos Secures £1.7M in Funding
EDINBURGH, Scotland, Jan. 26, 2018 — 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.
https://www.photonics.com/Buyers_Guide/Pyreos_Ltd/c18787