SenseLogix, a Conwy, UK-based provider of energy reduction solutions for the buildings market, has secured £1m in a Series A financing round.
Backers include Beringea, which made the investment through its ProVen VCT and ProVen Growth & Income VCT, and North Star Equity Investment Partners, which acted on behalf of the Finance for Business North East Accelerator Fund.
The Welsh Assembly Government also supported the company.
SenseLogix’ hardware and software solutions are designed to measure and manage electricity in commercial businesses, public sector, education and other office based environments, to eliminate electrical waste.
The new capital will help the company accelerate its growth and support new technology developments.
SenseLogix also plans to create more than 12 new jobs over the next 12 months.
In conjunction with the investment round, Stuart Veale, Managing Partner, Beringea, was appointed as a non-executive board member.