26th May 2016 07:27
LONDON (Alliance News) - Imperial Innovations Group PLC Thursday said it contributed GBP1.8 million in recent GBP3.0 million Series A funding round in Imperial College London spin-out Inflowmatix.
This leaves Imperial Innovations with a 57% stake in the water network data analytics business.
Also participating in the funding round was Parkwalk Advisors Ltd, which contributed the remaining GBP1.2 million.
The new funding will help Inflowmatix to continue field trials with customers, and launch the first commercial version of its high-speed logging technology.
"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," said Director of Technology Ventures Kelsey Lynn Skinner in a statement.
Shares in Imperial Innovations were untraded Thursday morning. They last traded at 395.51 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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