Investors support Senselogix with £1m

SENSELOGIX which develops products that measure and control the energy used by IT systems has secured a £1m the North West Fund and other investors.

Some £650,000 has come from the NWF’s energy and environmental pot, managed by CT Investment Partners.

A further £350,000 has been committed by existing investors Beringea – through the Proven VCT fund – and Proven Growth & Income VCT and NorthStar Ventures, through the North East Accelerator Fund.

The company plans to use the cash to accelerate the commercialisation of its technology and strengthen its sales, technical and customer service teams.

It is based in St Asaph, Denbighshire, but will move its head office to Chester and intends to increase staff numbers from 10 to 45 over the next three years.

Chief executive Jonathan Luke said: “Through our partnership with The North West Fund and CT Investment Partners we aim to continue our success in the emerging energy services sector by providing robust, intuitive and cost-effective energy management solutions for building users.

“Our products and services enable our clients to make real savings and reduce their carbon footprint in the process.”