Stream Sensing secures six-figure funding round from NPIF - Maven
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Manchester-based Stream Sensing, a specialist in advanced industrial rheology has secured a six-figure investment from NPIF – Maven Equity Finance, managed by Maven Capital Partners and part of the Northern Powerhouse Investment Fund (NPIF).
Founded in 2020, Stream Sensing provides next generation flow property sensors used for the quality control of fluid products. Clients are expected to be manufacturers in the fast moving consumer goods (FMCG) sectors including large blue-chip organisations.
The NPIF funding will allow the business to embark on the next stage of its growth journey, developing a new innovative generation of rheometers that use heat pulse technology to quickly and accurately measure the flow profile of liquid in a pipe. With greater investment into R&D, the company is looking to improve its industry leading technology to provide greater quality control whilst also working more efficiently and accurately, broadening is commercial appeal.
Traditionally, processing companies have used sampling solutions that measure flow properties during the manufacturing process. This often results in longer manufacturing lead times, poor quality control and supply chain inefficiencies. Stream Sensing’s solution is unique, in that it provides in-situ, real-time measurements that lighten the operational workload, creating a cost-savings through optimisation.
Stream Sensing’s technology has applications in multiple sectors and is now targeting new lucrative industries, such as specialty chemicals, pharma and oil and gas.
Backed by a management team of renowned leaders in electrical industrial tomography, Ken Primrose, CEO of Stream Sensing specialises in business planning for spinouts from universities.
Dean Cox, Investment Manager at Maven, said, “Stream Sensing’s management team have a strong reputation in their highly specialised sector and are excited to be supporting a business that has developed a proprietary technology that provides a unique quality control solution. During our diligence, several blue-chip organisations endorsed the team, the technology and the customer value proposition of Stream’s technology. Ken is a driven leader in his technical field with a compelling strategy and vision for the company and we look forward to working with him in helping to drive the business forward.”
Ken Primrose, CEO, of Stream Sensing, said, “Our new steps in rheology instrumentation present advances in process efficiency, digital manufacturing and what is called the ‘Fourth Industrial Revolution’. I am very excited at the opportunities opening up with the NPIF investment."
Raising equity may be suitable for businesses with growth aspirations, and the right investor can help a business achieve its objectives in a sustainable way. Maven has a proven track record of working closely with management teams in ambitious business to drive growth and create value. If your business is in need of finance to help unlock its growth potential, NPIF Maven Equity Finance may be able to help. Contact Maven’s local team today on 0161 233 3500.