SenseLogix, a St. Asaph Business Park, UK-based provider od energy reduction solutions, has raised £1m in Series B funding.
The round was led by The North West Fund for Energy and Environmental, managed by CT Investment Partners, with participation from existing investors Beringea, through the Proven VCT fund, and Proven Growth & Income VCT, and NorthStar Ventures, through the North East Accelerator Fund.
The company, which raised its Series A funding in 2010 (read here), intends to use the capital to accelerate commercialization of its technology, establish a new head office in Cheshire and expand its team to over 45 by 2015 (it currently employs 10 staff).
Established in 2009 and led by Jonathan Luke, CEO, SenseLogix develops and provides commercial businesses, education and the public sector with energy measurement and control products designed to eliminate the electrical waste of IT systems and other small power items. The control system is now part of an enterprise energy management platform that includes metering solutions, M&T software, energy and carbon reporting tools and energy dashboards to support behavioural change of energy users.
Customers include Gwynedd Council, Wolseley UK, University of Derby, Tallent Automotive and Helix Property Management, among others.
In conjunction with the funding, Adam Workman, partner at CT Investment Partners and fund manager of The North West Fund for Energy and Environmental, has joined the board of the company along with David Hall, SenseLogix’s sales and marketing director.
FinSMEs
31/08/2012