Sheffield: BGF leads £9m funding round for infrared sensor tech startup Phlux Technology
Phlux Technology, a Sheffield-based infrared sensor startup, has raised £9m in a funding round led by equity investor BGF to support the growth of fibre broadband connections.
The funding will drive Phlux’s expansion into the optical communications and sensing markets, based on its semiconductor technology. Existing investors Octopus Ventures, Northern Gritstone, and Foresight also participated in the funding round.
A spokesman said: “Phlux’s infrared sensors are significantly more sensitive than current alternatives while requiring less power, this enables faster, more efficient connectivity for applications like fibre-optic broadband.”
Founded in 2020 as a spin-out from the University of Sheffield, Phlux has built a global supply chain and serves customers across Asia, Europe, and North America.
With the ability to boost data transmission speeds by up to five times, Phlux’s technology will support the next generation of internet connectivity, with data rates as high as 50 gigabits per second, the spokesman added.
The spokesman said: “The company now plans to scale its team, increase production capacity, and strengthen its commercial partnerships to meet growing international demand.”
Ben White, CEO of Phlux, said: “This funding comes at a pivotal moment as demand for high-speed optical communication systems is growing enormously.
"By developing world-class, high-performance infrared sensors, we are enabling industries to push the boundaries of connectivity, sensitivity and efficiency by removing a technology bottleneck that has persisted for over 20 years.”
Luke Rajah, Partner at BGF, said: “Phlux has developed a game-changing technology in a sector that’s long overdue for disruption. With strong academic roots, early commercial traction, and a compelling roadmap, the team is well-positioned to lead in infrared sensing.
"Backed by BGF’s deep tech investment experience, we’re excited to support Phlux in scaling globally across the sensing and telecommunications markets."
Phlux raised a seed funding round of £4 million led by Octopus Ventures in December 2022 to support its growth.
Owen Metters, Investor at Octopus Ventures, added: “When we first invested in Phlux, we were impressed with both the team’s expertise in developing novel semiconductor materials, and their ambition to revolutionise infrared sensing.
"We’ve been delighted with their progress to date and are excited to see this funding deployed to grow the team and bring two exciting new product ranges to market.”
Duncan Johnson, CEO of Northern Gritstone, added: “Infrared sensors are advancing many critical everyday areas such as providing internet access to people's homes and aiding advanced safety and mobility.
Mr Johnson added: "Phlux is a fantastic example of semiconductor innovation in the North of England and Northern Gritstone is proud to continue supporting the Phlux team under Ben White’s leadership.”