SenseLogix, a provider of retrofit energy reduction products, has secured a 1M series A investment round led by international venture capital firm, Beringea and regional equity company, North Star Equity Investment Partners. The series A funding round contains a mixture of private and public funding and was completed to accelerate company growth and support new technology developments.
The round also included support from the Welsh Assembly Government, which is directly linked to the creation of new jobs. SenseLogix plans to create more than 12 new jobs over the next 12 months.
Jonathan Luke, SenseLogix’s Chief Executive Officer, says: We are delighted to announce that to build upon recent successes the company has closed a series A investment round to accelerate company growth and support future technology developments. It is exciting times at the company, following our successful launch at SustainabilityLive earlier this year, our recent award win, and our securing a product partnership with Marshall Tufflex for a range of pre-wired, SenseLogix powered cable management solutions.
Luke continued: What is extremely encouraging is that the investment has been completed in difficult economic market conditions, which is a testament to our technology and business model. We have seen strong early stage market traction from both end users and service partners, and we are confident our technology will provide good energy savings to end users and assist our service partners in providing enhanced, low carbon energy services to their clients.
The investment round will see the appointment of Stuart Veale, Managing Partner, Beringea, as a non-executive board member.
UK, Conwy, North Wales