The investment will be used to accelerate growth of its EM-2 family of products which are helping to transform the way in which critical wireless sensor data is transmitted from submerged environments to networks above.
The funding round was led by Archangels, Par Equity, and Scottish Enterprise with additional investment from British Business Investment (BBI), Raptor Group, Deep Future, SeaAhead’s Blue Angel Network, and a number of notable individual US investors.
This new investment will enable CSignum to expand its global presence, accelerate product development and address the growing demand for reliable, real-time data transmission for underwater and underground applications.
The company’s EM-2 solutions represent a breakthrough in wireless communication technology, capable of reliably transmitting data, via patented electromagnetic field signalling (EMFS), through environments including water, ice, soil, rock and concrete to networks above the surface - an ability no other wireless method has successfully achieved to date.
Key applications for EM-2 systems include water quality and environmental monitoring, wireless under-ship monitoring, and security applications for critical underwater infrastructure such as offshore wind turbines and oil and gas platforms.
The company also offers CSignum Cloud, providing data services to complement its wireless systems. The company’s dashboard and analytics are successfully deployed on several river water quality monitoring projects.
CSignum is working with customers in the UK, EU and US markets, to address growing environmental regulatory requirements and with upcoming deadlines for compliance, including large-scale real-time monitoring mandates under the AMP8 initiatives, the demand for the company’s solutions presents a significant growth opportunity for CSignum and its EM-2 technology.
“This investment reflects the growing recognition of the critical need for innovative communication solutions in the underwater IoT sector,” said Jonathan Reeves CEO at CSignum. He continued, “The support from our investors will allow us to scale our operations, enhance our product offerings and help industries worldwide manage their resources more effectively. We are grateful for their trust and excited to shape the future of underwater communication."
Founded in 2020, CSignum is headquartered in Bathgate near Edinburgh, and plans to add additional staff in the UK, USA, and EU over the next year as it continues to scale its operations.
The underwater communications market is expected to double in size from $5.1bn in 2024 to $10.2bn by 2032.
