Hunter-based good upkeep tooling producer Secure Gauge has raised $1.6 million in angel funding.
A syndicate of greater than 30 traders from Sydney Angels contributed, making it the biggest group for a single syndicate in Sydney Angels historical past.
Founder and Managing Director Luke Dawson stated he needed to show his value in a three-step pitching course of that ran by way of the second half of 2021 earlier than the take care of landed on New Years Eve. He got down to elevate $1 million and stated he was “blown away” by the curiosity in Secure Gauge.
“The capital elevate has given us an excellent alternative to proceed our fast-paced trajectory and improve progress in three areas of the enterprise together with gross sales, advertising and product growth,” he stated.
Dawson began 2022 utilizing the money to broaden the group, which has grown from seven to 12, including engineers, service technicians and a gross sales supervisor to new premises in Beresfield, NSW.
He stated shifting from a startup incubator to a brand new dwelling allowed them to arrange their very own insurance policies, processes and create their very own tradition inside the enterprise.
“It’s an thrilling time for Secure Gauge. Our imaginative and prescient is for the present and future tooling we develop to turn out to be normal apply for all upkeep technician’s all over the world, growing the worldwide security and effectivity requirements,” he stated.
The enterprise offered its first product in 2020, producing stay testing options that guarantee the protection of employees in mining, development, defence, rail and agriculture. They’re presently offered in Australia, the Americas, South East Asia and Africa, with Secure Gauge trying to broaden its distribution channels and put boots on the bottom in these key areas within the subsequent 12 months.
It additionally launched a brand new product, DataLink, which permits engineers and technicians to watch machine efficiency and choose up on irregular developments to scale back the chance of machine failure.
Dawson stated he was happy to see a number of traders provide their experience and expertise for the board. Former UK-listed Seeing Machines CEO Ken Kroeger has signed on as chairman, with former BHP Vice President of Security, Barry Formosa turning into a director.
Kroeger stated: “The excessive demand for Secure Gauge’s preliminary product providing – a wi-fi hydraulic stress sensor resolution that strikes car technicians away from the hazards related to engaged on a working piece of heavy tools – is proving very fashionable with each main mining corporations and the tools producers’ technicians that carry out extremely specialised upkeep duties”.
