Tech Company Financing Transactions
Tribosonics Funding Round
Mercia's EIS Funds and NPIF -- Mercia Equity Finance invested in a $1.9 million funding round for Tribosonics. The financing round was announced on 12/15/2023.
Transaction Overview
Company Name
Announced On
12/15/2023
Transaction Type
Venture Equity
Amount
$1,903,000
Round
Undisclosed
Proceeds Purpose
The company intends to use the funds to expand its ongoing product development efforts and bring its solutions to a wider audience, and extend its 42-strong team with the creation of around 25 new jobs in the next 18 months across its technical teams. It will also continue to invest in its apprenticeship scheme, Tribosonics Future Leaders Programme.
Company Information
Company Status
Private & Independent
Industry
Transportation
Mailing Address
Units 2 and 3 Edmund Road Business Centre 135 Edmund Road
Sheffield, England, S2 4ED
UK
Sheffield, England, S2 4ED
UK
Phone
Website
Email Address
Overview
Tribosonics is a transformational technology business taking its unique sensing technologies into uncharted and valuable territories, to deliver scale and impact. 23% of the world's energy consumption originates from tribological contact (tribology is the science of wear, friction, and lubrication). *By addressing friction and wear, there is the potential to save 1.4% of GDP, 8.7% of total energy consumption and a reduction in CO2 emissions by up to 3140 MtCO2 . *Tribosonics is at the cutting edge of addressing these problems and in so doing creating enduring commercial value in a digital world.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Glenn Fletcher
Chief Financial Officer
Janet Pryke
Chief Operating Officer
Mark Wallace
Chief Technical Officer
Phil Harper
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