Participated · Series B · Jul 2024

CorrosionRADAR develops predictive monitoring systems that use sensors installed on the surface of pipelines, tanks and other vessels plus analytics to detect and predict corrosion under insulation (CUI). The company targets oil, gas and petrochemical industries and the expanding hydrogen sector, aiming to improve safety and reduce maintenance costs. Founded by Chiraz Ennaceur and Mehrdad Silatani, CorrosionRADAR combines real-time data and predictive analytics to enable earlier detection of corrosion and better maintenance planning. The business currently employs 22 staff and is on course to increase revenue by 400% in the current year. The latest funding is intended to accelerate deployment of its monitoring systems worldwide and support continued product development to improve industrial operations and safety. CorrosionRADAR builds smart, wireless monitoring systems that detect and predict corrosion in pipelines and industrial assets, enabling real-time data-driven maintenance. Its technology has been installed on-site at a primary Aramco production facility, demonstrating potential for substantial cost savings and value generation. The company says its systems typically yield cost savings of 40–60% after installation and extend asset lifetimes. The recent funding will be used to strengthen operations and broaden efforts to tackle corrosion under insulation through digitalisation. CorrosionRADAR was founded in 2017 as a spin-out from the University of Cranfield and is based in Cranfield with an office in Cambridge. Mercia first backed the company at formation and has continued to support its growth. CorrosionRADAR develops a sensor-based system that detects and predicts corrosion under insulation on pipelines, tanks and other vessels by installing sensors next to the asset surface to provide real-time data on corrosion and moisture. The technology enables operators to move from manual on-site inspections to remote monitoring and from reactive to predictive maintenance, allowing early repairs that reduce maintenance costs and minimise the risk of catastrophic failures. Its solution is already deployed with customers including Solvay, Sitech and Reliance Industries across Europe, the Middle East and southeast Asia. The company was founded in 2017 as a spin-out from the University of Cranfield and has offices in Cranfield and Cambridge. CorrosionRADAR says the latest funding will be used to boost overseas sales and enter new markets as it prepares for a Series A round later in the year. The business has received ongoing support from Mercia since 2017 as it moved from development toward commercial roll-out. CorrosionRADAR builds permanently embedded remote sensors designed to monitor corrosion along the full length of oil and gas pipelines, with particular focus on corrosion under insulation (CUI) and buried pipes. The technology can reportedly pinpoint the location of corrosion at any point along a pipeline. The company aims to help operators reduce maintenance costs while maintaining safe and environmentally friendly operations. CorrosionRADAR is a spin‑out from Cranfield University and is based at Cranfield Technology Park in the UK. Led by CEO Dr Chiraz Ennaceur and COO Dr Mehrdad Silatani, the company plans to use new funding to further develop its technology and business and to secure commercial partners for initial field tests. The article reports the company secured £354k in funding to support these activities.

Led · Grant · Jul 2024

Ampaire develops hybrid-electric retrofit systems that combine electric propulsion with conventional engines for existing commercial aircraft to lower fuel burn, reduce emissions and cut airline operating costs. The company has demonstrated its technology in flight and is pursuing product certification and scaled production. Ampaire plans to use the new Series B proceeds to accelerate commercialisation, build supply chains, expand manufacturing and scale operating capabilities. It has engaged with airlines and industry partners, including participation in an IAG-run accelerator where it explored hybrid-electric auxiliary power unit (APU) solutions. Investors in the latest round include IAGi Ventures, Alaska Airlines and DiamondStream Partners. The company positions its offerings as practical retrofit options for aircraft already in service.

Participated · Series C · Sep 2022

Flyability develops collision-tolerant indoor inspection drones and companion software, most recently launching the Elios 3 with an integrated LiDAR sensor for indoor 3D mapping. Elios 3 produces real-time 3D models during flight and enables survey-grade 3D models after flights using Flyability’s software and third-party partners. The company reports close to a thousand customers and has offices in the USA, Singapore, China, and Lausanne. Its drones are used to inspect industrial and confined spaces to improve worker safety and to digitize asset inspection processes as part of Industry 4.0 initiatives. Flyability plans to use new funding to further develop sensing and autonomy capabilities for the Elios 3 platform. Customers-turned-investors such as Cargill and Dow have deployed the company’s technology in operational inspections. Flyability develops drone-based B2B solutions that enable indoor exploration and inspection of inaccessible and confined spaces, reducing safety risks, labor costs and environmental hazards for industrial operators. Its core products are market-leading indoor inspection drones and increasingly complete platform solutions for complex inspections. The company serves over 500 customers in more than 50 countries, employs about 100 people, and has offices in Europe and the USA. Flyability also maintains a network of over 50 resellers, including in China and Japan. The startup plans to use new funding to accelerate global expansion and continue developing its commercial indoor drone innovation. Management emphasizes building more complete and complex platform offerings to better serve its worldwide customer base. Flyability produces Elios, a collision-tolerant drone designed to perform indoor inspections in complex and confined environments. The drone prevents human exposure in hazardous spaces and targets applications in power generation, oil & gas, mining and chemical industries. Flyability reports more than 350 customers and 500+ drones in the field, cumulating thousands of flight hours. The company plans to increase production, expand its network of partners and invest heavily in R&D. Its R&D roadmap focuses on 3D mapping, localization and autonomous navigation to push the limits of indoor autonomous flight. Flyability has raised $11 million in a Series B and $16 million in total since its 2014 founding; it is based in Lausanne. Flyability develops collision-tolerant drones that can navigate complex, confined and hazardous environments to perform inspections where human entry is dangerous or costly. Its technology allows drones to tolerate collisions and reach areas conventional drones cannot without high crash risk. The company is active in energy production, maritime and oil & gas markets, inspecting boilers, tanks, vessels and ballast spaces. Customers cited include power plant operators, oil & gas majors and inspection companies, who benefit from reduced downtime, lower inspection costs, and avoided human interventions. Flyability plans to use new funding to ramp up production to meet growing demand and to expand into new markets such as search & rescue and security. The company is also preparing a product targeted toward the mass market. Flyability SA, based in Lausanne, Switzerland, develops collision-tolerant drones for the inspection, exploration, and reconnaissance of complex environments. Its core product is a drone that can fly in contact with structures and is safe to operate near humans. The company has been shipping prototypes to first customers since April 2015, targeting industrial inspection in energy and transport infrastructure as well as first responders (firefighters, police, search & rescue). The team includes over 15 engineers, and Flyability won the $1M UAE Drones for Good Award in 2015; it is supported by Swiss FIT, the W.A. de Vigier Foundations, Venture Kick, and the NCCR Robotics. Since its creation Flyability has attracted over 2.5 million CHF in funding. Management says the new round provides resources to launch its first professional product, planned to be available in 2016.

Led · Equity · Apr 2016

OxyMem, founded in 2013 as a UCD spin-out, develops a Membrane Aerated Biofilm Reactor (MABR) that supplies oxygen to wastewater microorganisms via a gas-permeable membrane. The patented technology claims up to 75% cuts in wastewater treatment costs and up to 90% oxygen transfer versus under 30% for conventional bubble aeration. The company has an operating base in Athlone and has won industry awards including InterTrade Ireland Innovation of the Year (2014). By the end of 2014 OxyMem had raised €1.2m in equity and reported a loss of €840,000, with filed accounts projecting further losses for the next three years and substantial revenues anticipated from 2018. Management has sought incremental credibility in a risk-averse water sector while reducing manufacturing costs to market the solution at about 25% less than conventional technologies. OxyMem develops a membranous tubing system that supplies oxygen to bacteria in wastewater tanks with up to 95% transfer efficiency, versus roughly 30% for conventional pumped compressed air. The company says its technology can cut wastewater treatment costs by up to 75% and has reduced manufacturing cost to allow marketing at about 25% less than conventional technologies. OxyMem was co‑founded in 2013 by Professor Eoin Casey and Dr Eoin Syron and has a patent application stemming from Syron’s PhD work on membrane aerated biofilm reactors. The venture operates from a 25,000 sq ft premises in Athlone and currently employs 24 people, with plans to grow headcount to 35 within the next year. Management cites manufacturing scale‑up and building customer credibility in a risk‑averse water industry as principal near‑term challenges. Year‑to‑date the company has raised private funding to support continued product development.

Participated · Series C · Oct 2012

RainStor builds a NewSQL relational database that emphasizes heavy compression to handle very large datasets, claiming up to 40-fold reductions in storage and faster backups. The product was originally positioned for on-premise and cloud data-archiving use cases. In January the company released a version that runs natively on the Apache Hadoop stack (not a connector), enabling compressed data storage in Hadoop while allowing traditional SQL queries alongside map-reduce workflows. RainStor’s technology lets organizations avoid piping data back and forth between systems and preserves Hadoop for data scientists who still want map-reduce. The company was originally called Clearpace and has raised multiple venture rounds to date. Proceeds from the new financing will be used to expand engineering, sales, and marketing teams. RainStor provides infrastructure software for online information preservation. The company is based in San Francisco, CA and also operates offices in Gloucester, UK. RainStor secured $7.5m in a Series B funding round from Storm Ventures and Informatica. Existing investors Doughty Hanson Technology Ventures and The Dow Chemical Company also participated in the round. As part of the financing, Tim Danford, managing director at Storm Ventures, will join RainStor’s board of directors. The company said it will use the funds to expand into new markets, grow its partner base, and invest in product development and R&D.