Flow sensing company Flusso Limited (Flusso) has been jointly acquired for £28 million by a company and a global private equity fund focused on investing in semiconductor companies and other high-tech industries.
The transaction will enable the acquirers to expand their current product portfolio into flow and environmental sensing, and to establish a European footprint in Cambridge, UK to add to their existing facilities in the US and China. It will also give Flusso immediate access to significant additional expertise and capacity in the design, development and manufacture of new semiconductor devices.
Commenting on the acquisition, Dr Andrea De Luca, CEO of Flusso said:
“Everyone at Flusso is excited by what this acquisition means for our business as we power into a new phase of development.
“It will help to accelerate the commercialisation of our flow sensing product lines; to fast-track the development and launch of our gas sensor products for environmental applications; and allow us to increase the investments and engineering resources allocated to developing new sensor innovations.
“We will also get improved access to markets and customers, particularly in Asia.”
Flusso will continue to operate under its own brand name and with its existing management team under the direction of CEO and company co-founder Dr Andrea De Luca.
Flusso was founded in 2016 as a spin-out from University of Cambridge with support from Cambridge Enterprise, the university’s commercialisation arm. The company completed a significantly over-subscribed series A round in June 2020, led by Parkwalk Advisors, to raise US $5.7 million (£4.65 million) ; and launched its first product, the FLS110, as the world’s smallest flow sensor targeting high-volume consumer, industry and medical applications later that year.
John Pearson, investment director at Parkwalk, said:
“Parkwalk is delighted about the acquisition of Flusso, which will provide the business with the growth funding it requires for the next stage. We have supported Flusso since early 2019 and always felt that the mixture of truly innovative technology and a highly experienced team would ensure the success of this company.”
1 – Flusso was spun-out of The University of Cambridge in 2016 by co-founders Dr Andrea De Luca, CEO at Flusso (shown on the left above) and Professor Florin Udrea, CTO (on the right). The wider founding team, who are also all sensor experts with extensive experience in fluid dynamics and the semiconductor industry, included Professor Julian Gardner, Dr John Coull, Dr Syed Zeeshan Ali and Dr Ethan Gardner.
2 – Flusso launched the FLS110 as the world’s smallest mass flow sensor in October 2020. The flow sensor has a footprint of just 3.5 mm by 3.5 mm.
3 – Flusso launched the FLS110 as the world’s smallest mass flow sensor in October 2020.
4 – Flusso launched its FLS122 air velocity sensor earlier this year to target thermal management applications in servers, gaming PCs and data centres.