Bristol alumnus EnModus raise £3m investment

17thJul 2017

Congratulations go to Bristol SETsquared alumnus, EnModus, which has secured £3m in Series A funding.

Started in 2010, EnModus, has developed a technology that can transform any industrial, commercial or retail property into a smart building, simply by connecting all devices to the cloud via an existing power line.

Investors in this round include intu, one of the UK’s largest shopping centre owners; Breed Reply and Finance Wales

This brings the company’s total investment to £9m and will help the firm accelerate its growth across Europe, North America, Asia-Pacific and beyond. EnModus also aims to double its staff count of 16 within the next 18 months.

Andy Heaton, founder and CEO of enModus, says: “This is an exciting moment for enModus. Having intu, such a key player in commercial real estate, joining our key investors and supporting enModus, is a validation that our technology is the best fit for safer and smarter buildings and that we provide our customers with a platform that helps them manage their energy efficiency priorities in the most effective way.”

Bristol Centre Director, Monika Radclyffe says: “It’s fantastic to see EnModus continue to prosper and develop. The SETsquared incubation programme aims to build the foundations needed for strong growth once companies graduate from the Centre, including building a scalable business model, a strong management team and a compelling investment pitch.”