Robert Bosch Venture Capital GmbH, Siemens Technology Accelerator, Seraphim Capital, Scottish Investment Bank’s Scottish Venture Fund und Braveheart Ventures investieren in Pyreos
• Robert Bosch Venture Capital lead £5.5m investment in Scottish Company Pyreos
• Funds push Pyreos towards global leadership in infrared sensor products
• Pioneers in oil monitoring, gas sensing & touchless control of mobile devices
Pyreos, a global leader in infrared sensor products, today announced plans for international expansion having secured a further funding round of £5.5m. The investment was led by Robert Bosch Venture Capital GmbH, who co-invested alongside Siemens Technology Accelerator, Seraphim Capital, Scottish Investment Bank’s Scottish Venture Fund, clients of Braveheart Ventures and individual shareholders.
Pyreos has a range of unique infrared sensor products which provide innovation in industrial, medical and consumer products. The Company’s sensors can be used to prevent wind turbine engine failure, to monitor for harmful gases such as CO2 in buildings, and as a touchless gesture control in mobile phones and tablet PCs.
Claus Schmidt, Managing Director of Robert Bosch Venture Capital GmbH commented: “Currently mid infrared spectroscopy is limited in its application due to the cost involved with this technology. Pyreos’ unique approach will allow to significantly reduce cost and to apply mid infrared spectroscopy in many industrial and medical applications which couldn’t be addressed before. We are excited to support Pyreos to further exploit its massive potential and to enlarge its already established international customer base.”
Pyreos was founded in 2007 and employs twenty people at its headquarters in Edinburgh.
The company has over 75 patents and applications protecting its unique thin film infrared sensor technology which provides performance, cost and size advantages over other infrared sensor technologies.
CEO of Pyreos, Jeff Wright said: “It is a great endorsement of our products, our team, and our plans to have secured such substantial financial support from investors. Customers around the globe are turning to Pyreos sensors for innovation in everything from hospital patient monitoring systems to consumer electronic devices, where our Gesture Sensor with its high accuracy and low power consumption is really exciting mobile phone manufacturers. This funding will develop the sales and marketing team at Pyreos and enable us to support our customers globally.”
Headquartered in Edinburgh, Scotland, Pyreos Ltd develops and manufactures advanced thin film pyroelectric infrared sensor products. Protected by over 75 granted patents and applications, the Company’s unique high performance MEMs based infrared sensors are enabling a diverse range of innovative new products in medical, industrial, environmental and now consumer electronic applications. Examples include non-invasive diabetes monitoring systems, oil sensors for wind turbine monitoring, laser measurement systems, as well as gas sensors and energy efficiency products. Founded in July 2007 by local entrepreneurs, Jeff Wright, Carsten Giebeler and Scott Freeborn with the help of Siemens Technology Accelerator, Braveheart and Scottish Enterprise, the Company has built up a global investor base including Siemens, Mitsubishi-UFJ of Japan, and now Robert Bosch Venture Capital. Pyreos operates its own cleanroom product development, pilot production and test facilities in Edinburgh as well as having high volume ISO qualified manufacturing partners to support its global customer base.
About Robert Bosch Venture Capital GmbH
More information on the Bosch Group and the Robert Bosch Venture Capital GmbH is available online at www.bosch.com, www.bosch-presse.de and www.rbvc.com.
About Siemens Technology Accelerator (STA)
STA is a corporate venturing activity of Siemens AG with the focus on external commercialization of innovative non-core technologies of Siemens. STA transforms those innovative non-core Siemens technologies into attractive business opportunities, either by founding spin-off companies or by means of sale or licensing.
Further information on STA is available on the Internet at www.siemens.com/sta.
About Seraphim Capital
Seraphim is a £30m UK-based venture capital fund (managed by YFM Equity Partners) that invests in companies with highly scalable, disruptive technology that are addressing large global markets. The fund is backed by a consortium of business angel networks and corporate ventures from across the UK and the US. www.seraphimcapital.co.uk
About Scottish Venture Fund
The Scottish Investment Bank is a division of Scottish Enterprise which operates Scotland-wide, in partnership with Highlands and Islands Enterprise. It operates a suite of funds including; The Scottish Seed, the Scottish Co-investment, the Scottish Venture and the Scottish Loan Fund to support Scotland’s SME funding market to ensure that businesses with growth and export potential have adequate access to growth capital, see www.scottish-enterprise.com.
Braveheart Investment Group makes and manages investments in young, emerging British companies, specialising in building portfolios for business angels, high net worth individuals, family offices and public sector organisations. Braveheart was founded in 1997 by a small group of investors to encourage and syndicate investments in privately held companies that offered opportunities for significant growth. Fifteen years on, Braveheart is a public company with a demonstrable track record in SME investing, an established client base and various funds under management. The Group has offices in Perth, London, Yorkshire and Jersey, and franchises in Dubai and Manchester.