Today: Feb 12, 2025

Maven Capital Partners Spearheads £3.1 Million Investment Boost for Belfast’s Sensoteq in Groundbreaking Sensor Technology

1 year ago

Maven Capital Partners has taken the lead in a funding round that injected £3.1 million into Sensoteq, a wireless sensor company based in Belfast. Founded in 2016, Sensoteq specializes in creating sensors designed for monitoring the temperature and vibration of industrial machinery. These sensors enable remote analysis through the company’s software.

The applications of Sensoteq’s sensors span across diverse sectors, including renewable energy, pharmaceuticals, and automotive industries. Alan Robertson, a partner at Maven, commended Sensoteq for its development of a cutting-edge product, providing clients with access to previously unattainable data crucial for ensuring the health and continuous performance of essential production equipment.

Maven collaborated with TechStart Ventures, which contributed £600,000 to the £3.1 million funding round. Earlier in the year, Sensoteq secured a £500,000 loan from the Growth Finance Fund to facilitate the expansion of its workforce.

Sensoteq’s cloud software is designed to minimize the necessity of entering potentially hazardous environments and reduce machine downtime. Idir Boudaoud, the CEO and co-founder of Sensoteq, expressed enthusiasm about Maven’s investment, emphasizing its significant impact on the company’s international expansion plans. The funds raised will be allocated to expanding the team, introducing new products, enhancing customer support, and bolstering marketing and sales efforts.

Founded in 2016 by two highly experienced innovators, Alan McCall and Idir Boudaoud, Sensoteq is the product of 50 years of combined expertise in new product development in sensing systems for the automotive industry. Together, Alan and Idir saw a unique opportunity to bring to market wireless sensing technologies suitable for application in heavy duty industrial environments.

Headquartered in Belfast, Northern Ireland, Sensoteq has attracted a world class team of technical engineers, who specialise in all aspects of software, hardware and mechanical design. Designed and built in the UK and Ireland, the result is a market leading product suite which has been tried and tested around the globe in leading-edge manufacturing sites.

Today, Sensoteq is a market leading provider of wireless condition monitoring systems. Maintaining unrivalled focus on research and development, the company continues to deliver new solutions to prevent machine failure, boasting a market reach that spans every corner of the globe. Sensoteq’s customer base speaks for itself, citing household names across a vast array of industries to include automotive, pharmaceutical, mining, oil and gas, renewable energies, waste recycling, and food and beverage.

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