HomeUKMirico Secures £3.5M in Venture Funding

Mirico Secures £3.5M in Venture Funding

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Mirico, an Oxford, UK-based maker of equipment for high-precision sensing of gases using next-generation laser techniques, secured £3.5m in funding.

The round was led by Longwall Ventures ECF along with STFC Innovation Ltd, UK Innovation & Science Seed Fund (UKI2S) and new investors Foresight Williams Technology EIS Fund.

The company intends to use the funds to complete the product development of its current system and build a manufacturing capability to serve its world-wide customer base.

Originally spun-out of the RAL Space Division of the UK’s Science and Technology Facilities Council (STFC) in late 2015 with £1M of investment from Longwall and UKI2S and led by newly appointed CEO Dr Linda Bell, who has spent her career leading and building science-based businesses, Mirico designs, develops and manufactures gas sensing solutions for applications including environmental monitoring to improve measurements for air quality and greenhouse gases and in industrial process control where it detects a number of important gas molecules to improve process efficiency and product yield.
Over the past two years, the company has developed a prototype system for remote detection of emissions for use in industrial facilities and scientific applications around the world.

FinSMEs

30/04/2018