Flusso, a semiconductor company spun out of the University of Cambridge, has raised a $5.7 million Series A funding round to scale up production of the world’s smallest flow sensor.
The round was led by existing investor Parkwalk Advisors and new investor Foresight Williams Technology EIS Fund, with participation from 24 Haymarket, Cambridge Enterprise, Martlet, and Cambridge Angels. With products already commercially available, the investment will also enable Flusso to widen its product and technology portfolio.
Flusso’s patent-protected technology enables flow sensors to be made significantly smaller and less expensive, while adding enhanced functionality and without compromising performance. Flow meters are traditionally used in industrial, automotive, and medical products to monitor the movement of gas or liquid. The market is worth $8 billion annually, but is highly fragmented in terms of technologies and applications, an innovation has been lacking in consumer products in particular.
Flusso was spun out of the University of Cambridge in 2016 by co-founders Professor Florin Udrea, Professor Julian Gardner, Dr John Coull, and Dr Andrea De Luca, all sensor experts with extensive experience in the semiconductor industry.
Andrea De Luca, Founder and CEO at Flusso, said exclusively to UKTN: “Flusso’s technology platform has been researched for many years at the University of Cambridge. At conferences, potential end users were often approaching us because they were intrigued by the size of our sensors and the microelectronics processes used to manufacture them. This is how we figured out there were a few unserved exciting applications requiring sensors with a very tiny form factor at a price point far lower than off-the-shelf products.
“We will use this investment to bring our first product to market, widen our technology portfolio and strengthen the team to support our vision.”
John Pearson, Investment Manager at Parkwalk, added: “Parkwalk are delighted to continue to support the team at Flusso. The company has an exciting technology with multiple large scale applications and with this financing the highly experienced team has the resources to deliver on that promise.”
Nick Mettyear, Investment Manager at Foresight, said: “We are delighted to support Flusso in the next stage of development and accelerate the commercialisation of its existing products.
“Our unique collaboration with Williams Advanced Engineering and their expertise in fluid dynamics has already seen the Williams team supporting the company and providing valuable commercial insights.”