By clicking submit, you agree to share your email address with the site owner and Mailchimp to receive marketing, updates, and other emails from the site owner. Use the unsubscribe link in those emails to opt out at any time.
By clicking submit, you agree to share your email address with the site owner and Mailchimp to receive marketing, updates, and other emails from the site owner. Use the unsubscribe link in those emails to opt out at any time.
By clicking submit, you agree to share your email address with TFN to receive marketing, updates, and other emails from the site owner. Use the unsubscribe link in the emails to opt out at any time.
A Cambridge-based flow sensing company Flusso has just been jointly acquired for £28 million by a company and a global private equity fund, which is focused on investing in semiconductor companies and other high-tech industries. However, the names of the acquirers of the company remain unannounced.
The transaction will enable the acquirers to expand their current product portfolio into flow and environmental sensing, and to establish a European footprint in Cambridge, UK to add to their existing facilities in the US and China. It will also give Flusso immediate access to significant additional expertise and capacity in the design, development and manufacture of new semiconductor devices.
Post the acquisition, Flusso will continue to operate under its own brand name and with its existing management team under the direction of CEO and company co-founder Dr. Andrea De Luca.
Prior to this round, the company completed a significantly oversubscribed Series A round in June 2020 led by Parkwalk Advisors. Also, it launched its first product, the FLS110, as the world’s smallest flow sensor targeting high-volume consumer, industry and medical applications later that year.
John Pearson, investment director at Parkwalk: “Parkwalk is delighted about the acquisition of Flusso, which will provide the business with the growth funding it requires for the next stage. We have supported Flusso since early 2019 and always felt that the mixture of truly innovative technology and a highly experienced team would ensure the success of this company.”
Commenting on the acquisition, Dr Andrea De Luca, CEO of Flusso said: “Everyone at Flusso is excited by what this acquisition means for our business as we power into a new phase of development. It will help to accelerate the commercialisation of our flow sensing product lines; to fast-track the development and launch of our gas sensor products for environmental applications; and allow us to increase the investments and engineering resources allocated to developing new sensor innovations. We will also get improved access to markets and customers, particularly in Asia.”
Flusso was spun-out of The University of Cambridge in 2016 by co-founders Dr Andrea De Luca, CEO at Flusso and Professor Florin Udrea, CTO to commercialise an innovative sensor technology. This tech was first developed by the High Voltage Microelectronics and Sensors group at the Electrical Engineering Department within the university.
The company’s first two products are the FLS110, the world’s smallest flow sensor, and the FLS122 which was launched in May this year as the world’s smallest air velocity sensor. Both are part of a complete digital flow sensing solution. Flusso has built a strong IP portfolio of CMOS MEMS and sensor packaging innovations covering 13 patent families, and is currently developing its first gas sensing products for market launch.
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.
© 2022 Tech Funding News - All rights reserved.