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Nov 1st, 2013
 
Ultra low power consumption infrared sensor company Pyreos secures $4m investment for global expansion
 
Pyreos Limited, an emerging leader in ultra‐low power consumption infrared sensor technology for consumer, industrial and environmental sensor products announced plans for international expansion having secured a further funding round of $4m. The investment was led by Robert Bosch Venture Capital GmbH, Seraphim Capital, Siemens Technology Accelerator and the Scottish Investment Bank (SIB), the investment arm of Scottish Enterprise.
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Pyreos’ pioneering ultra‐low power consumption infrared sensors are making strong inroads into the global smartphone and tablet markets. Their recently launched gesture and proximity sensor products use just micro‐watts of power making them several orders of magnitude more energy efficient than competing technologies. This can enable advanced features like ‘always‐on’ gesture which has opened a myriad of applications to app developers for mobile devices. In addition, the sensor enables applications such as long range gesture, presence detection and wake‐up functions for other consumer markets including PC, TV, Docking Stations, Tablet devices and Smart Energy, which have attracted significant customer traction.

Supporting the continued success in consumer electronics, the Pyreos technology has established itself as a leader in the industrial gas and flames sensor market and it has a significant position in the emerging portable handheld spectroscopy market. Pyreos’ small, battery‐powered device provides rapid, accurate analysis of solids or liquids wherever and whenever required. This removes the wait for expensive lab‐based analysis and enables instant onsite results. The company has traction in a broad range of end markets including the dairy, winery and lubricant industries as well as a number of open discussions with OEM partners for delivery of dedicated and customized solutions. Claus Schmidt, Managing Director of Robert Bosch Venture Capital GmbH commented:“We are excited to support Pyreos to exploit existing and future licensing opportunities.Reducing power consumption by the magnitude achieved by Pyreos creates massive potential in mobile and handheld applications across both consumer and industrial markets.The new investment will fund growth in the team to enlarge its already established international customer base.

 

 
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