Data transmission firm CSignum raises £6 million – Daily Business

Subsea data transmission firm CSignum has completed a £6 million Series A funding round that will expand its global growth and accelerate development of its pioneering solutions.

The funding for the Bathgate-based company was led by Archangels, Par Equity, and Scottish Enterprise.

Additional investment came from British Business Investment, Raptor Group, Deep Future, SeaAhead’s Blue Angel Network, and notable individual US investors. 

CSignum’s solutions represent a breakthrough in wireless communication technology, capable of reliably transmitting data, via electromagnetic field signalling (EMFS), through water, ice, soil, rock and concrete to networks above the surface.

This is a capability that no other wireless method has successfully achieved to date. Key applications include water quality and environmental monitoring, wireless under-ship monitoring, and security applications for critical underwater infrastructure such as offshore wind turbines and oil and gas platforms. 

CSignum is working with customers in the UK, EU and US markets, to address growing environmental regulatory requirements.

Founded in 2020, the company plans to add additional staff in the UK, US, and EU over the next year as it continues to scale its operations.

The funding will be directed toward expanding the company’s engineering team, advancing its product portfolio and strengthening its market presence to meet the increasing demands for efficient, real-time monitoring solutions.

The underwater communications market is expected to double in size from $5.1 billion in 2024 to $10.2bn by 2032.

Chief executive Jonathan Reeves said: “This investment reflects the growing recognition of the critical need for innovative communication solutions in the underwater IoT [internet of things] sector.

“The support from our investors will allow us to scale our operations, enhance our product offerings and help industries worldwide manage their resources more effectively. We are grateful for their trust and excited to shape the future of underwater communication.”

Dan McKiddie, investment manager at Archangels, said: “CSignum has developed a truly unique technological breakthrough which could be a game-changer for those industries reliant on securing reliable data from their underwater operations.

“We’re looking forward to supporting the management team in their efforts to scale the business and disrupt the global market for underwater communication.”

Claire Clamm, investment manager at Par Equity, said: “CSignum’s ability to deliver reliable and cost-effective communication solutions for challenging environments sets them apart in the market.

“This funding will accelerate their journey to becoming a global leader in underwater data transmission. We are excited to partner with them as they expand their reach and capabilities.”