Cambridge-based Silicon Microgravity (SMG) has raised £1.8 million in funding, the first stage of a £2.8 million funding round, which will enable the commercialisation of its MEMS (micro-electrical mechanical systems) technology.
Funds came from the UK Innovation & Science Seed Fund (UKI2S), the Oxford Innovation EIS Growth Fund, Oxford Innovation Finance’s Angel Network (OION) and the Defence and Security Accelerator (DASA).
“We are proud to cornerstone this investment into this UK-based DeepTech spin out from Cambridge. It’s evidence of our ambition to back innovative companies that are forging ahead in providing impactful solutions across key markets. SMG is one of the early investments from the UKI2S dual-use fund dedicated to early-stage companies which can positively impact defence and security,” says Alexander Leigh, Investment Director for UKI2S and Future Planet Capital Group.
“We are excited to be working with our partners in DSTL and DASA in leveraging defence sector support for technologies that also have clear use cases in other markets. In the case of SMG, we see a number of exciting and environmentally beneficial use cases in civil engineering, mineral mapping and carbon capture storage,” he adds.
A spin-out from the University of Cambridge, SMG’s accelerometers and gyroscopes delivers MEMS based tactical and navigation grade sensing it claims will disrupt the motion sensing markets.
“This new investment provides us with the funding to take our game changing technology to commercialisation, helping deliver the UK government’s semiconductor and technology strategy. Our Inertial sensors are already gaining strong industry interest globally with a major aerospace and defence contractor having already placed contracts," says Francis Neill, CEO of SMG.
"Our revolutionary gravity sensor will be commercialised later this year with the industry interest shown by our acceptance on to Europe’s largest infrastructure accelerator program and the award of funding from the Department for Business and Trade railway construction innovation competition. We are very excited for this next stage in SMG’s journey,” he adds.