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Toulouse, France, 2008/02/27 - Neosens, a company specialized in microelectronics based sensor technology used to monitor fouling and dissolved oxygen in industrial processes, announces the closing of 2.5M€ in capital funding.
Neosens was founded in 2001 in Toulouse, France by Laurent Auret after conducting a successful trial on the use of MEMS (Micro-Electro-Mechanical Systems) for sensor applications at the ELTA - AREVA Group in partnership with the LAAS-CNRS (Laboratoire d’Analyse et d’Architecture des Systèmes). Since then, Neosens has acquired a unique technology from INRA for the measurement of biofilm to further strengthen its product line. Today, based on its expertise in electro-chemistry and microelectronics, Neosens develops and markets a range of innovative sensor solutions based on MEMS technology. The products include, among others, in-situ sensors used to measure dissolved oxygen levels in real-time, and sensors that continuously monitor biofilm and scale formation in heat exchangers and process piping. Neosens, a pioneer in its field, offers a new generation of solutions that enable the continuous monitoring of water quality for industrial applications such as cooling systems, pulp & paper, food & beverage processing, and ultra-pure water.
“In the water industry, the monitoring of pollutants, such as micro-organisms and mineral deposits, is paramount. In addition, the consumption of chemicals needed to clean water systems must be reduced to limit the impact on the environment. Neosens has the answer to this problem by continuously monitoring the growth of biofilm and thereby measuring the efficiency of cleaning processes”, says Alessio Beverina, Principal at Sofinnova.
This round of funding will help Neosens finance both its development and marketing initiatives, and fuel the company’s growth. The initial objectives will be the expansion of the current line of sensors, the development of OEM integration activities, and the addition of new measurement techniques to its technology platform.
“We are very pleased to have won the trust of new investors, which led to the creation of a powerful and coherent consortium” says Laurent Auret. “The creation phase of the company is now achieved and complete, and today, we are focus on the worldwide sales development of our innovative products. Neosens has greatly benefited from the support and expertise of the Midi-Pyrénées Regional Incubator as early as 2001, as well as scientific and technological partnerships supported by the Midi-Pyrénées region and OSEO INNOVATION. We are also very grateful to our first industrial partners and customers who first recognized the unique value of our technology.”
Marc Lambrechts, Senior Investment Manager, Capricorn Venture Partners mentions “As a cleantech investor, we are delighted to join this company and complementary investment syndicate. Cleantech is about creating breakthroughs by combining technology and knowledge originating from different disciplines; Neosens (neo-sens.com) is an excellent example of such a technology fusion platform, offering solutions applicable to multiple market segments.”
The ICSO Private Equity team and IRDI have renewed their confidence in Neosens after their initial investment through FAM (Midi-Pyrénées seed fund). “As one of the first investors in the company, we are very pleased with the development of Neosens since its creation. Neosens now has a unique technology that meets the needs of a booming market. We are also very pleased to welcome a group of major investors who will provide every means necessary to accelerate the company’s growth”, said Jean-Michel Petit, Investment Director at ICSO Private Equity.