Robert Bosch Venture Capital GmbH, Siemens Technology Accelerator, Seraphim Capital, Scottish Investment Bank’s Scottish Venture Fund und Braveheart Ventures investieren in Pyreos

By on Juli 4, 2012

•  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.”

About Pyreos
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.

About Braveheart
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.


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