ICON has successfully secured a further round of investment for Energy solutions firm, SenseLogix.
The series B funding round, worth £1million, was led by The North West Fund for Energy and Environmental, managed by CT Investment Partners. This funding round also includes further investment from the company’s existing investors Beringea and Northstar Ventures.
SenseLogix is an award winning company based in North Wales, who provide retrofit energy reduction solutions for the workplace and education environments. The solution, “EnergyLogix”, retrofits into the buildings existing electrical infrastructure to manage electrical items including IT and appliances, in order to eliminate electrical waste. The system also provides user level information to help engage energy users and improve user behaviour.
The funds will enable SenseLogix to accelerate commercialisation of its award winning EnergyLogix technology, establish a new head office in Cheshire and expand its headcount to over 45 by 2015 to support business growth.
SenseLogix won the award in 2010 for the Best Innovation in Green Products or Services at the prestigious Innovation and Sustainability Awards, which are held at the Energy Solutions Expo in Olympia, London.
“ICON led discussions with a wealth of international financial and trade investors, negotiated the transaction and delivered a superb deal. Many thanks for guiding us through, the funding you secured will have a transformational impact on our business.”
Jonathan Luke, CEO, Senselogix