Ultra‐low power consumption infrared sensor company Pyreos secures $4m investment for global expansion
Pyreos Limited, an emerging leader in ultra‐low power consumption infrared sensor technology for consumer, industrial and environmental sensor products today announced plans for international expansion having secured a further funding round of $4m. The investment was led by Robert Bosch Venture Capital GmbH, Seraphim Capital, Siemens Technology Accelerator and the Scottish Investment Bank (SIB), the investment arm of Scottish Enterprise.
Pyreos’ pioneering ultra‐low power consumption infrared sensors are making strong inroads into the global smartphone and tablet markets. Their recently launched gesture and proximity sensor products use just micro‐watts of power making them several orders of magnitude more energy efficient than competing technologies. This can enable advanced features like ‘always‐on’ gesture which has opened a myriad of applications to app developers for mobile devices. In addition, the sensor enables applications such as long range gesture, presence detection and wake‐up functions for other consumer markets including PC, TV, Docking Stations, Tablet devices and Smart Energy, which have attracted significant customer traction.
Supporting the continued success in consumer electronics, the Pyreos technology has established itself as a leader in the industrial gas and flames sensor market and it has a significant position in the
emerging portable handheld spectroscopy market. Pyreos’ small, battery‐powered device provides rapid, accurate analysis of solids or liquids wherever and whenever required. This removes the wait for expensive lab‐based analysis and enables instant onsite results. The company has traction in a broad range of end markets including the dairy, winery and lubricant industries as well as a number of open discussions with OEM partners for delivery of dedicated and customized solutions.
Claus Schmidt, Managing Director of Robert Bosch Venture Capital GmbH commented:
“We are excited to support Pyreos to exploit existing and future licensing opportunities.
Reducing power consumption by the magnitude achieved by Pyreos creates massive
potential in mobile and handheld applications across both consumer and industrial markets.
The new investment will fund growth in the team to enlarge its already established
international customer base.”
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Scott Freeborn, email@example.com 0131 650 7009
Ann Simon, firstname.lastname@example.org
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Pyreos Limited, a technology spin‐out from Siemens, has over 100 patents and applications protecting its unique thin film pyroelectric infrared sensor technology. The company’s high performance MEMs‐based sensors enable a diverse range of innovative new products in consumer electronics, industrial and environmental settings. Applications include gesture sensors, oil sensors for wind‐turbine monitoring, laser measurement sensors as well as gas sensors and energy efficiency products. Pyreos’ recently launched gesture and proximity sensor products use just micro‐watts of power making them several orders of magnitude more energy efficient than competing technologies. Pyreos operates its own cleanroom product development, pilot production and test facilities as well as having high‐volume ISO qualified manufacturing partners to support its global customer base. Founded in 2007 with the help of Siemens Technology Accelerator, Braveheart and Scottish Enterprise, the Company has built up an international investor base including Siemens, Seraphim, Robert Bosch VC and Mitsubishi‐UFJ of Japan. Pyreos is headquartered in Edinburgh, United Kingdom. For more information about Pyreos please visit our website at www.pyreos.com.
About Seraphim Capital
Seraphim is a UK‐based venture capital fund that invests in companies with highly scaleable, disruptive technology that are addressing large global markets. Seraphim invests across all sectors and all stages. The fund is backed by a consortium of business angel networks and corporate venturers from across the UK and the US. The consortium includes Europe’s largest early stage venture investor Capital for Enterprise as well as the leading angel networks from across the UK and the US. For more information: www.seraphimcapital.co.uk.
About Robert Bosch Venture Capital GmbH
Robert Bosch Venture Capital GmbH invests worldwide in innovative start‐up companies at all stages of
their development. Its investment activities focus on technology companies working in areas of business of current and future relevance for Bosch, above all automation and control, energy and environment, enabling technologies and healthcare. Robert Bosch Venture Capital GmbH also invests in services/ business models as well as new materials that are relevant to the above‐mentioned areas of business. For more information, visit www.bosch.com and www.rbvc.com.
About Siemens Technology Accelerator
Siemens Technology Accelerator (STA) is a corporate venturing activity of Siemens AG with the focus on external commercialisation of innovative technologies outside of Siemens’ business areas.
About Scottish Investment Bank
The Scottish Investment Bank is the investment arm of Scottish Enterprise, operating Scotland‐wide in partnership with Highlands and Islands Enterprise. It manages a suite of funds including the Scottish Seed Fund; the Scottish Co‐investment Fund and the Scottish Venture Fund, which are partly funded by the European Regional Development Fund (ERDF); the Scottish Plastics Loan Fund and the Renewable Energy Investment Fund. SIB is also the cornerstone investor in the privately managed Scottish Loan Fund and an investor in the Rock Spring Ventures Life Sciences Fund. These support Scotland’s SME funding market to ensure businesses with growth and export potential have adequate access to capital. SIB also provides a team of financial readiness specialists to help companies prepare for new investment and more easily access finance.
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