The Lancaster business has developed an infrastructure management solution that is designed to allow organisations to reduce energy use, capital expenditure and operating costs, while improving asset utilisation and service.
It aims to expand overseas and triple turnover by 2014 and will utilise the funding to drive this expansion.
The finance included £150,000 equity investment from the UMIP Premier Fund.
Geoff Butcher, chief executive of Cable-Sense, said, ‘Working with The North West Fund for Energy & Environmental and UMIP Premier Fund will provide us with the resources to rapidly develop our business.
‘Their knowledge and expertise in the green IT space has added tremendous value to our company. We are confident that we can fill a substantial gap in the market and develop both nationally and internationally.’
Mark Rahn, partner at MTI, manager of the UMIP Premier Fund, added, ‘We are delighted that Cable-Sense has progressed and has attracted a quality investor in the green IT space, following on from our proof of principle and seed investments.’
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