Seraphim et al. back Pyreos

Pyreos will use the funding to hire additional staff.

STA is the incubator arm of Siemens, established to develop the non-core assets and technology of Siemens into profitable, stand-alone businesses. STA has backed Pyreos since the company's inception.

Previous funding
Pyreos secured £2m in early-stage funding in January 2008 from Braveheart Investment Group, STA and Scottish Enterprise. The company received a further £1.35m in April 2010 from STA and new investor Seraphim.

Pyreos's third funding round took place in March 2011. The company's four existing investors – Braveheart, STA, Scottish Enterprise and Seraphim – invested £2m collectively.

Company
Headquartered in Edinburgh, Pyreos span out of Siemens in 2007. The company is believed to have generated turnover of £443,900 in 2012, as well as an operating loss of £1.9m.

Pyreos develops ultra-low-power-consumption infrared sensor technology, designed for use in the consumer electronics, environmental and industrial sectors.

The company's thin-film pyro-electric infrared sensors are used to create a range of infrared sensor products such as anaesthesia monitoring, oil condition monitoring, touchless gesture sensors and flame detection.

People
Jeff Wright is the CEO of Pyreos and co-founded the business alongside CTO Carsten Giebeler and vice president of operations Scott Freeborn. RBVC managing director Claus Schmidt, Seraphim managing director Mark Boggett and STA CFO Christian Wiesinger sit on the company's board of directors.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• UK / Ireland
• Industrials
• Expansion
• United Kingdom
• Seraphim Capital
• Scottish Enterprise