Inflowmatix has raised £3m from its first major venture capital round, which was made up of Imperial College’s Imperial Innovations Group and Parkwalk Advisors Ltd.
Innovations contributed £1.8m to the round and now holds a 57.2% undiluted stake in the company and co-investor Parkwalk Advisors Ltd contributed the extra £1.2m.
Inflowmatix aims to provide water flow and pipe health analytics to water utilities worldwide, enabling them to diagnose hydraulic instabilities and failures, reduce bursts, prioritise network maintenance and reduce operating costs.
The company’s technology is based on research carried out in Dr Ivan Stoianov’s InfraSense Labs, in the Department of Civil & Environmental Engineering at Imperial College London.
Inflowmatix has developed a prototype product (patent-pending) and is currently engaging with potential clients to trial its systems in the field and validate their financial benefits.
Kelsey Lynn Skinner, director technology ventures at Imperial Innovations, said: “Inflowmatix has made strong progress since our last round, engaging with customers and developing its end-to-end solution towards commercialisation.
“We have been working with Ivan Stoianov on Inflowmatix since its initial IP development and are delighted to continue our relationship with this new investment.
“We would also like to welcome Alun from Parkwalk Advisors to the board. We have co-invested with Parkwalk in a number of our other ventures and we look forward to working alongside them in this exciting opportunity.”
The new funding will enable the company to continue to engage with customers in field trials and launch a first commercial version of their high-speed logger.
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