Despite the difficulties businesses are facing during the 2020 pandemic, Senceive, a London based designer and manufacturer of wireless condition monitoring solutions, has sold over 30,000 of its revolutionary sensors this year alone. The support from Finance Birmingham has been essential to enabling accelerated growth into the rail, construction and mining sectors.
Senceive received £750,000 investment in December 2018 to catalyse the continued development of its intelligent wireless condition monitoring system and become a global leader in condition monitoring technologies for the rail industry and beyond.
Its innovative solutions provide repeatable high-quality data, through the use of long-lasting wireless sensors, on the structural and geotechnical condition of assets. This allows their clients to understand the condition and behaviour of a wide range of assets during their construction and their operational life.
Since the investment, Senceive have trebled its sales figures and created over 20 new jobs, with more to follow. The firm is also supplying to a growing number of contractors working on the new HS2 line.
Graham Smith, CEO at Senceive commented:
“Our hard work and dedication to our customers has meant we now have over 50 people, projects and partners across 40 different countries. The support from Finance Birmingham and the investment from the Rail Supply Growth Fund has helped us gain increasing momentum across the globe, to invest further in our people and to build upon our core capabilities and intelligent monitoring technology to re-inforce our position as market leaders.”
Jack Glonek, Investment Director at Finance Birmingham commented:
“Senceive has performed exceptionally well over the last two years and we are proud to see their ambitious plans to deliver their condition monitoring sensors to a global market become a success, bolstered by the support of Rail Supply Growth Fund funding.”
The Rail Supply Growth Fund was set up by central government and managed by Finance Birmingham to provide flexible finance to businesses across England, focused on capitalising on opportunities across the global rail sector. The fund is now closed for new investment.