Engineering software firm gets seven-figure boost

An engineering software firm has unveiled growth plans after securing seven-figure investment.

Productive Machines is set to create jobs in a European and US market expansion.

The blueprint follows £1.3 million support led by Finance Yorkshire that included a £450,000 South Yorkshire Mayoral Combined Authority investment. 

The firm has also secured a £1.1 million Innovate UK loan.

Bosses say the cash will bolster the rollout of the 14-staff company’s SenseNC machining intelligence software – which is used by component makers to monitor equipment’s operational efficiency – across sectors including aerospace, automotive, defence, healthcare and precision engineering.

Erdem Ozturk, chief executive at the firm, which previously spun out from the University of Sheffield’s Advanced Manufacturing Research Centre, said the funding boost will make a big difference to Productive Machines’ offer.

He said: “Our clients machine complex, high-value components where a single scrapped part is costly. 

“Our software removes the trial and error from their processes; SenseNC optimises cutting conditions digitally before the machine touches metal, so they get it right the first time.”

The investment package into Productive Machines, which is based at the Advanced Manufacturing Park, between Rotherham and Sheffield, was led by Finance Yorkshire’s Seedcorn Fund, with follow-on backing from ACT Venture Partners and Mercia Ventures.

Alex McWhirter, Finance Yorkshire chief executive, said: “We are pleased to be part of a substantial investment round, which will enable Productive Machines to grow and capture new clients across Europe and the US.”

South Yorkshire mayor Oliver Coppard added: “Productive Machines is a great example of the talent, ideas and innovation we have in South Yorkshire.

“Our investment, combined with private sector backing, will help it expand capacity, bring new products to market and reach new customers around the world.”

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