UMIP invests in Lancaster spin-out

A CABLE technology firm based in Lancaster has received a £500,000 investment from the University of Manchester’s UMIP Premier Fund.

Cable Sense, based at Lancaster University, said the cash injection would help it take its products to market. The business, a university spin-out, has developed a new way of managing cabling systems.

MTI Partners, a Manchester-based venture capital firm specialising in technology investments, has handled the investment on UMIP’s behalf. Cable Sense received a £100,000 proof of principle grant from UMIP in January.

Founder and technical director John Kelly said: “MTI’s investment provides a fantastic platform for Cable Sense to deliver its product to the market and prove its business model.

“Both MTI and UMIP have worked hard to help us put the corporate structure and commercial foundations behind this business, and with our technical approach I’m confident that we can fill a substantial gap we’ve identified in the market.”