Sheffield tech spin-out secures six-figure investment to boost manufacturing productivity
A South Yorkshire tech spin-out aiming to boost manufacturing productivity has secured new six-figure funding to continue its expansion.
Sheffield-based FourJaw Manufacturing Analytics has secured new investment from an angel and venture capital syndicate.
Founded by Robin Hartley and Chris Iveson - former research engineers at the University of Sheffield Advanced Manufacturing Research Centre (AMRC) - FourJaw specialises in software designed to give real-time insights into manufacturing operations.
The new investment values the company at £2m, and comes weeks after the firm was awarded a Business Productivity Programme grant.
Bart Simpson, FourJaw’s chairman and former senior operations director at Autodesk, explained: “FourJaw have hit upon a beautifully simple tool that is affordable, adaptable and accessible to the overwhelming majority of machining shop floors in the UK.
“It elegantly sidesteps the often costly and complex big ticket alternatives, to deliver the right information at the right time – which is real time – securely through the cloud.
“A handheld tabletgives staff, from the shop floor to the top floor, easy-to-digest data that will drive big improvements in productivity, thus securing UK jobs and international markets against fierce global competition.”
Edward Stevenson, investment executive at SFC Capital, one of the investors in FourJaw, commented: “This investment shows our confidence in the game changing technology that FourJaw has developed. Much of UK manufacturing is tired with the hype surrounding Industry 4.0.
“But FourJaw have created a data-driven, productivity booster that is simple to install, easy to use and affordable to run. It is a technology right for its time, driving a manufacturing renaissance for post-Brexit and post-Covid Britain where productivity and competitiveness will be essential.”
Sheffield City Region LEP chair James Muir, added: “Despite the challenges of the pandemic, South Yorkshire has businesses capable of and hungry for growth.
“FourJaw is a fantastic example of how bringing together two of our region’s strengths, digital technology and manufacturing, can attract further investment to South Yorkshire.
“Companies like FourJaw will help us bring our ambitious jobs-led recovery plan for the region to fruition through the creation of good, high-value jobs in South Yorkshire.”
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