CSignum secures £6 million funding
CSignum has completed a £6m Series A funding round.
The investment should accelerate growth of its EM-2 family of products, which transmit wireless sensor data from submerged environments to networks above.
The round was led by Archangels, Par Equity and Scottish Enterprise, with additional investment from British Business Investment, Raptor Group, Deep Future, SeaAhead’s Blue Angel Network and individual US investors.
CSignum plans to expand its global presence, accelerate product development and address the growing demand for reliable, real-time data transmission for underwater and underground applications.
Key applications for EM-2 systems include water quality and environmental monitoring, wireless under-ship monitoring and security applications for critical underwater infrastructure such as offshore wind turbines and oil platforms.
The company also offers CSignum Cloud, providing data services to complement its wireless systems.
It is working with customers in the UK, EU and US markets to address growing environmental regulatory requirements.
Chief executive Jonathan Reeves said: “This investment reflects the growing recognition of the critical need for innovative communication solutions in the underwater IoT sector.
“The support from our investors will allow us to scale our operations, enhance our product offerings and help industries worldwide manage their resources more effectively.“
Dan McKiddie, investment manager at Archangels, said: “CSignum has developed a truly unique technological breakthrough which could be a game-changer for those industries reliant on securing reliable data from their underwater operations.
“We’re looking forward to supporting the management team in their efforts to scale the business and disrupt the global market for underwater communication.”
Founded in 2020, CSignum is headquartered in Bathgate and plans to add additional staff in the UK, US, and EU over the next year, as it continues to scale operations.
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