Based at the Scottish Microelectronics Centre at Edinburgh University, Pyreos designs ultra-low power sensors, which are making strong inroads into the global smartphone and tablet markets, as well as industrial and environmental products.
The investment was led by Robert Bosch Venture Capital, Seraphim Capital, SiemensTechnology Accelerator and the Scottish Investment Bank.
Claus Schmidt, managing director of Robert Bosch Venture Capital commented: "Reducing power consumption by the magnitude achieved by Pyreos creates massive potential in mobile and handheld applications across both consumer and industrial markets. The new investment will fund growth in the team to enlarge its already established international customer base."
Pyreos, headed by former Microemissive Displays co-founder Jeff Wright, has recently launched gesture and proximity sensor products that use micro-watts of power, making them several orders of magnitude more energy-efficient than competing technologies. It enables advanced features such as 'always-on', used for mobile devices. The sensor also enables applications such as long range gesture, presence detection, and wake-up functions, for other consumer markets including PC, TV, docking stations, tablet devices and smart energy, which have attracted significant interest.
Supporting the continued success in consumer electronics, the Pyreos technology has established itself as a leader in the industrial gas and flames sensor market and it has a significant position in the emerging portable handheld spectroscopy market. The company's small, battery-powered device provides rapid, accurate analysis of solids or liquids enabling instant onsite results.
Pyreos was formed in 2007 to exploit technology acquired from industrial giant Siemens.