Imperial Innovations reinvests in Imperial College London spinout Inflowmatix in a $4.3m series A round that also gained investment from Parkwalk Advisors.
Inflowmatix, a water network analytics company spun out of Imperial College London, has raised £3m ($4.3m) in a series A round from Imperial Innovations and Parkwalk Advisors.
Imperial Innovations invests in companies located in the golden triangle, a geographic region defined by Oxford, London and Cambridge. Parkwalk Advisors invests in companies emerging from universities and research institutions in the UK.
Inflowmatrix, founded in July 2015, has developed a device that when fitted to water pipelines is able to provide data on the water network. This can help identify instabilities and failures, reduce bursts and enable a company to schedule and prioritise maintenance work.
The technology is based on research at Infrasense Labs located in the Department of Civil and Environmental Engineering at Imperial College London.
Imperial Innovations contributed £1.8m to the round with Parkwalk providing £1.2m. This investment brings Imperial Innovations undiluted stake in the company to 57.2%.
In July 2015, Inflowmatix raised £1m in seed funding from Imperial Innovations.
Kelsey Lynn Skinner, director technology ventures at Imperial Innovations, said: “Inflowmatix has made strong progress since our last round, engaging with customers and developing its end-to-end solution towards commercialisation.”