The financing round was led by the Low Carbon Innovation Fund (LCIF2), which was joined by Applied Technology Ventures Ltd and a range of angel investors with specific industry expertise. Further investment and support through the process from existing shareholders Namier Capital Group and Hatch Blue showed their strong commitment to ANB Sensors.
"This investment is vital as we ramp up our commercial team and increase our manufacturing capabilities. We are looking forward to welcoming and working with our new investors and directors as we go through this exciting transition period,” said Nathan Lawrence, CEO and co-founder of ANB Sensors*.
pH measurement is required across a vast array of industries, including aquaculture. However, according to ANB, the current technology has seen only incremental improvements over decades and, as new fields emerge, they are simply not fit for purpose. Traditional devices are fragile, require special storage conditions and frequent manual calibration to maintain performance. This need for calibration has a huge impact on maintenance overheads and limits mass deployment, while also having a significant environmental footprint.
ANB is addressing these issues by providing solutions to meet the demands required for today's networked world. The startup’s patented technology can either be retrofitted into existing glass electrodes to make them calibration-free or combined with ANB’s solid-state pH technology to form a robust, calibration-free solution.
To date ANB has secured £1.3 million of grant funding, allowing the company to file ten patents. This work culminated in the launch of its first S-Series ocean monitoring sensor in December 2020 and ANB has since sold to customers in four continents. The product portfolio is rapidly evolving, and the company is now working with key partners to provide best fit for the aquaculture and oceanography markets.
Francis Wright, managing director of Turquoise, commented: “We are delighted that LCIF2 has invested in ANB Sensors to support the future growth of the company. ANB’s technology represents a significant step forward in pH sensing capability and we have been impressed by the management team and the market traction they have achieved.”
Glenn Cruger, an executive who previously served as division chief executive of Halma's water businesses and as president of Hach Environmental commented: "I’m excited about the opportunity to invest in and participate on the board of ANB Sensors. While the last 20 years has seen only incremental improvements in pH sensing technology, ANB has developed truly breakthrough technology for this critical water quality parameter. Customers will see better measurements and lower costs from the most stable, calibration-free measurement."
*ANB Sensors is part of Hatch's investment portfolio, but The Fish Site remains editorially independent.
