Pyreos

In January 2018, VentureFounders successfully supported Pyreos in its £1.7m fundraise alongside Moulton Goodies, Wren Capital, Kelvin Capital and the London Business Angels. 

 

Pyreos is one of the world’s only suppliers of thin film pyroelectric sensors. These miniaturised, ultra-low power detectors are highly responsive and sensitive, capable of withstanding thermal shocks, and can be used out of the laboratory.

Its unique technology, which is protected by 88 patents granted (56 additional patents pending), was developed by Siemens and spun out in 2007 following £7m of R&D investment.

Led by an experienced management team, Pyreos has an impressive shareholder base which includes strategic and institutional investors such as STA (a corporate venture arm of Siemens), Robert Bosch Venture Capital, the Scottish Investment Bank and Seraphim Capital.

Investment Highlights

  • Innovative product with multiple applications, protected by 88 patents and manufactured at scale and low cost. 

  • Diversified applications and commercial traction, has increased its year-on-year revenue by over 50% with £493k of sales order backlog.

  • Impressive shareholder base including Robert Bosch Venture Capital, the Scottish Investment Bank and Seraphim Capital. 

  • Led by Andrew Wallace, Pyreos has an experienced management team with significant experience in engineering, electronic and semiconductors.