Plexus Innovation, which is based in Durham, has secured £300,000 investment from the North East Venture Fund (NEVF), supported by the European Regional Development Fund and managed by Mercia; and £180,000 from the Finance Durham Fund, managed by Maven Capital Partners, established by Durham County Council and overseen by Business Durham.
Plexus Innovation’s GUARDIAN technology remotely monitors and measures temperature, CO2, humidity and water systems, enabling insight-driven decisions, reduction of energy use and provision of real-time data for use in compliance reporting. The system also provides automated alerts to highlight potential health risks or failing assets that otherwise may be overlooked.
GUARDIAN is being used by clients in sectors such as social housing, education, health and care, with clients including believe housing, North Star Housing Group and Careline Lifestyles. The funding will enable co-founders Ian Murray and Steve Todd to accelerate product development and boost market penetration in other sectors including manufacturing, leisure and hospitality.
The latest investment follows a £400,000 funding round in 2020. Since then the company has tripled to employ an eight-strong team and is planning to create two new jobs in the coming months.
