- Investment will support the management team to scale the Company and build on its existing position as a supplier to global blue-chip customers
Investment is from the £100 million Foresight East of England Fund; since 2019, Foresight has invested over £30 million into SMEs in the East of England
Cambridge, 06 March 2023: Foresight Group (“Foresight”), a leading listed regional private equity and infrastructure investment manager, is pleased to announce a multi-million pound equity investment into Cambrionix Limited (“Cambrionix” or the “Company”), a Cambridge-based designer of hardware and software solutions for the global mobile device management market.
Founded in 2007, Cambrionix develops hardware and software which enables organisations to deploy mobile devices at scale. The Company provides industry-leading products, with a particular focus on the software quality assurance, education, healthcare and retail sectors. The product range includes bespoke USB hubs which allow customers to launch and configure, charge, update and monitor large numbers of mobile devices at the same time, with improved speed, flexibility and reliability.
Cambrionix has long-standing relationships with leading global technology companies and plays a key role in the current market trend towards shared mobile devices. An estimated five million devices worldwide are connected to Cambrionix hardware at any one time.
Foresight’s investment will support the management team as they develop the Company’s strategy of enabling mass deployment of mobile devices. Steve Leyland, a highly experienced Director, with previous leadership roles at Intel, Polycom, Barco and Electrosonic, will join the Board as Executive Chair. Gordon Campbell, whose recent experience includes Ubisense and PragmatIC Printing, will join as CFO.
This is the seventh investment from the Foresight East of England Fund – a £100 million, evergreen fund supporting SMEs in the East of England and beyond. Foresight’s Cambridge-based investment team, led by Matt McLoughlin, continues to actively search for new investment opportunities throughout the region.
Commenting on the investment, Victoria Tyson, Managing Director of Cambrionix, said: “As an ambitious Cambridge-based technology company, we are delighted to have secured investment from the Foresight East of England Fund. We look forward to working with Foresight, Steve Leyland and Gordon Campbell as we continue our mission to support organisations in their deployment of mobile devices at scale.”
Steve Leyland, incoming Executive Chair at Cambrionix, commented: “Cambrionix operates in a large and growing market, based on the increasing prevalence of shared mobile devices across many sectors. With its focus on customer service and product innovation, the Company has a great opportunity to grow in the coming years.”
Matt McLoughlin, Director at Foresight, added: “Cambrionix is a great example of the innovation and entrepreneurial spirit present in the East of England. The Company has developed globally-renowned products for the growing mobile device management market, working with some of the world’s largest technology companies. We look forward to supporting the team through the next phase of growth.”
Councillor Alison Whelan, Chair of the Cambridgeshire Pension Fund, commented: “The investment into Cambrionix is an exciting opportunity for the Foresight East of England Fund to support a high-potential company based in the heart of the region. I am delighted that the Fund has invested in another leading, local business.”
Foresight is one of the most active SME investors in the UK. For close to four decades, Foresight has supported SMEs through various economic cycles and, in calendar year 2022, Foresight invested into over 90 SMEs. With offices located across the UK and Ireland, its team partners with founders and management teams to achieve their business ambitions.