Investors drop £1.8m into Cambridge gravity sensor company
A group of investors have deployed £1.8m into a gravity sensor company as part of a wider £2.8m financing round.
Cambridge-based Silicon Microgravity is developing gravity and inertial sensors, more commonly known as accelerometers and gyroscopes.
Francis Neill, CEO of Silicon Microgravity, said: “Our Inertial sensors are already gaining strong industry interest globally with a major aerospace and defence contractor having already placed contracts.”
Neill added that the firm will commercialise its gravity sensor “later this year.”
Silicon Microgravity’s round attracted investment from the UK Innovation & Science Seed Fund (UKI2S), Oxford Innovation EIS Growth Fund, Oxford Innovation Finance’s Angel Network, along with the Defence and Security Accelerator.
Spunout out of the University of Cambridge in 2016, the gravity sensor company will use its new capital to commercialise its micro-electrical mechanical systems tech by working on its mass production capability.
Alexander Leigh, investment director of UKI2S, said: “We are excited to be working with our partners in DSTL and DASA in leveraging defence sector support for technologies that also have clear use cases in other markets.
“In the case of SMG, we see a number of exciting and environmentally beneficial use cases in civil engineering, mineral mapping and carbon capture storage.”
Cambridge is home to a wide number of semiconductor companies, most notably Arm, which this month decided to forgo an IPO in its home market opting for the US.