FourJaw, a Sheffield, UK-based IoT startup that helps manufacturers optimize productivity and reduce energy use, raised £1.8 million in funding, bringing its total raised to £4 million.
The investment was from NPIF – Mercia Equity Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund, Mercia’s EIS funds and private investors.
FourJaw Use of Funds
The company will use the funding to support further development of the machine monitoring platform and expansion of the customer base. It will also enable FourJaw to accelerate product development and invest in its technology and customer success teams, creating seven new jobs.
Founded in 2020 by Chris Iveson and Robin Hartley-Willows, FourJaw Manufacturing Analytics is a Sheffield-based IoT (Internet of Things) startup that helps manufacturers optimize productivity and reduce energy consumption. The company provides a machine monitoring platform that acts as a "fitness tracker" for machines, tracking vital signs like machine utilization and energy usage. It then translates this data into actionable insights to help manufacturers identify and eliminate inefficiencies on the factory floor. Its platform is currently used by over 120 manufacturers worldwide in sectors ranging from aerospace and automotive to energy and food production.
Company: FourJaw Manufacturing Analytics Limited
Funding Month: October 2023
Lead Investors: NPIF – Mercia Equity Finance
Company Website: https://fourjaw.com/
Software Category: Manufacturing Analytics Software