Tribosonics
Assembly Line
Tribosonics set to create another 25 jobs after £1.5m fundraise
Tribosonics has raised a further £1.5m from NPIF – Mercia Equity Finance, which is managed by Mercia and part of the Northern Powerhouse Investment Fund, and Mercia’s EIS funds. The investment will support Tribosonics’ ongoing product development and bring its solutions to a wider audience. The company also plans to expand its 42-strong team with the creation of around 25 new jobs in the next 18 months across its technical teams. It will also continue to invest in its award-winning apprenticeship scheme, Tribosonics Future Leaders Programme.
Tribosonics’ solutions are used to monitor industrial machinery and components and manage process efficiency and product quality. Its integrated systems – which incorporate hardware, software and advanced ‘edge’ analytics – provide data and insights to help companies improve performance, extend plant life, reduce maintenance and energy use and meet sustainability goals.