Manchester hi-tech specialists back Lancaster business
Manchester Technology investment specialists, MTI Partners, has announced its latest investment through the UMIP Premier Fund (UPF) in North West start up CableSense Ltd.
The company has developed an innovative new approach to managing large scale, wide structured cabling systems, and MTI has made a £500,000 investment deigned to accelerate the delivery of its proposition to market.
CableSense’s solution is differentiated by being readily retro-fittable at a low cost to existing cabling installations. The system’s utilises CableSense’s proprietary technology for network cable monitoring, scanning and mapping.
This substantially reduces all the cost elements of maintaining and running a network, including the cost and complexity of moves, making additions and changes, fault indetificaion and diagnosis, inventory management and capital expenditure through the identification and re-use of redundant equipment and capacity.
Over recent years CableSense’s founders have collaborated with the University of Lancaster and the School of Electronic and Electrical Engineering at the University of Manchester with support from the high competitive TSB Technology Programme.
Lancaster based CableSense also received a £100,000 Proof of Principle investment earlier this year through UMIP’s well regarded technology transfer and incubation process, and has now graduated to a full UPF investment.
John Kelly, the founder and Technical Director of CableSense said: “MTI’s investment provides a fantastic platform for CableSense to deliver its product to the market and prove its business model.
John Continues: “Both MTI and UMIP have worked hard to help us put the corporate structure and commercial foundations behind this business, and with our technical approach I’m confident that we can fill a substantial gap we’ve identified in the market”
MTI Partners Investment Manager Mark Rahn said: “CableSense is living proof that it is possible to build high-tech, high-growth start-up companies through all North West corporate and multiple university collaborations.
“It also demonstrates that it is possible develop a healthy, commercially viable product and business model in less than a year via UMIP’s process.”
Mark concludes: “MTI knows that the future success of CableSense’s technology lies in its simplicity, and if positioned properly in the market, has enormous potential.”
CableSense forms part of the growing cluster of high-tech companies across the North-West region supported by MTI and the UPF fund.