The consortium comprises Perivoli Innovations, the University of Bristol Enterprise Fund (managed by Parkwalk Advisors Ltd), IP Group plc, the Institution of Mechanical Engineers' Stephenson LP Fund, and a number of angel investors.
Inductosense is developing novel ultrasonic sensors for monitoring corrosion cracks and defects.
The technology as been dubbed WAND for wireless and non-destructive and uses battery-free sensors installed on a structure. The sensors are small, passive and can be read wirelessly and can therefore be permanently attached to structures and take readings through a layer of material or coating.
The technology was developed over several years by Chenghuan Zho, Anthony Croxford and Professor Paul Wilcox from the Ultrasonics and Non-Destructive Testing Group at the University of Bristol. Since 2015 the team has launched their first product – a system for measuring internal corrosion on pipework – and secured orders. They are working with a number of major companies on trials with an initial focus on monitoring assets across the oil, gas and nuclear industries.
"With the investment we want to accelerate our pace and progress from trials to commercial deployment of sensors. We are also commercialising some exciting new products," said Matt Butcher, CEO of Inductosense, in statement.
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