Senceive has today announced a significant six-figure investment from the Rail Supply Growth Fund to support its continued domestic and international expansion across the rail and wider construction and mining industries.
The £750,000 investment will see the company catalyse the continued development of its intelligent condition monitoring system. In addition to increasing its workforce, it is looking to consolidate its position as the global, leading supplier of monitoring technology for the rail industry and beyond. With a wide range of applications, Senceive’s innovative wireless solutions help rail and construction clients to gain vital information and insights on the state of their infrastructure, to improve the reliability and safety of their assets and services in a highly cost-effective and robust manner. Acquiring this data quickly and easily through extremely long lasting (up to 15 years) wireless communications, enables clients to predict the state of degradation of their infrastructure assets over many years, allowing them to then make appropriate and, if necessary, rapid decisions and management choices for efficient, economic and importantly, safe operations.
The Rail Supply Growth Fund is managed by Finance Birmingham and supported by central government. It provides flexible finance to businesses across England that are focused on capitalising on opportunities across the global railway sector. The investment provided to Senceive will support its continued growth across its Business Development, R&D and Operations areas as it seeks to capitalise upon a growing range of opportunities in the global rail and construction markets.
Commenting on the investment, Senceive CEO, Graham Smith, said: “Senceive is committed to delivering the very best and innovative monitoring solutions to all our clients within the rail and construction industries to help them improve performance and efficiency, whilst minimising risk and disruptions as well as benefiting from significant cost savings”.
Smith continued: “We work very closely with the industry and over the past few years we’ve generated real momentum with clients and industry partners. They recognise we are genuinely the best and most innovative at what we do anywhere in the world for wireless enabled condition monitoring technology in Rail and Construction. This investment from the Rail Supply Growth Fund will help us to maintain this momentum, further enhance our technology and build upon our portfolio of increasingly global clients to accelerate growth”.
Jack Glonek, Investment Director at Finance Birmingham, said: “Senceive is an exciting example of one of the types of business the Fund is focused on supporting – a rail-focussed firm with ambitious growth plans and a dynamic management team. Finance Birmingham is proud to help a company that has significantly grown over the past three years and has ambitious future growth plans to enhance the delivery of its impressive condition monitoring solutions to a global market”.
This announcement follows another hugely successful year for Senceive which again saw over 60% growth and a significant increase its client base. In addition, the UK firm has recently been named as one of the top 100 companies to work for in the New Civil Engineer’s “NCE100 Power List” which recognises the most innovative and forward-thinking companies within civil engineering. This is as well as being named as the NCE’s “Trending 20” which recognises the top 20 most inspirational and exciting UK SMEs and dubbed “ones to look out for” this year and beyond.