Tuesday, February 27, 2024
HomeFunding UK IoT Startup FourJaw Raises £1.8 Million in Funding

[Funding alert] UK IoT Startup FourJaw Raises £1.8 Million in Funding

FourJaw, an IoT company based in the UK, has raised £1.8 million from the Northern Powerhouse Investment Fund (NPIF), which is managed by Mercia, as well as from private investors and Mercia's EIS funds.

FourJaw, an IoT company based in the UK, has raised £1.8 million from the Northern Powerhouse Investment Fund (NPIF), which is managed by Mercia, as well as from private investors and Mercia’s EIS funds.

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The Sheffield-based company will use the new financial infusion to grow its clientele and improve its machine monitoring platform. FourJaw’s platform, an instrument for the industrial sector, keeps an eye on energy and machinery usage and provides actionable information for keeping machines in the best possible condition.

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Chris Iveson, co-founder and CEO said, “Improving productivity, sustainability and profitability are the three key challenges facing manufacturers today. FourJaw provides an affordable solution to overcome them and unlock opportunities by providing real-time insights to inform operational and commercial decisions,”.

Keira Shepperson, Director at British Business Bank said, “Not only will this investment enable FourJaw to enhance its platform, but it will facilitate its growth to expand beyond Sheffield. It’s exciting to see innovative small businesses like FourJaw make a real impact in the manufacturing sector, and it’s great to see Sheffield leading the way,”.

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About FourJaw

In 2020, FourJaw was founded as a spinoff from the Advanced Manufacturing Research Centre at the University of Sheffield, and since that point, they have been committed to our purpose.

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Today, they appreciate that manufacturers across the world rely on their award-winning technology. And they are more proud still of the team of exceptional individuals who make up the team that developed our technology. Both individually and together, they share our passion for using technology to increase productivity, efficiency, and profitability for manufacturers all over the world.

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