What is Mirico?
Mirico specializes in next-generation emissions intelligence, focusing on the continuous detection, localization, and quantification of methane emissions at the facility level. Their unique laser sensor technology is designed to cover large areas efficiently, providing precise insights that help clients reduce methane emissions cost-effectively and explore new market opportunities. The company serves various sectors, including upstream production, processing, and liquefied natural gas hubs, with a commitment to enhancing compliance and minimizing costs associated with emissions. Mirico's innovative approach has garnered recognition as a top innovator in the industry, reflecting its impact on deep decarbonization efforts.
How much funding has Mirico raised?
Mirico has raised a total of $6.8M across 3 funding rounds:
Other Financing Round
$1M
Private Equity
$1.4M
Unspecified
$4.4M
Other Financing Round (2016): $1M with participation from Longwall Ventures and The Rainbow Seed Fund
Private Equity (2016): $1.4M led by Longwall Ventures and Midven
Unspecified (2018): $4.4M supported by UK Innovation and Science Seed Fund, STFC Innovation, Longwall Ventures ECF, and Foresight Williams Technology EIS Fund
Key Investors in Mirico
UK Innovation and Science Seed Fund
The UK Innovation and Science Seed Fund is likely an early-stage investment vehicle focused on supporting innovative companies emerging from the UK's research and development ecosystem.
Longwall Ventures
Longwall Ventures invests in early stage deeptech businesses that leverage the UK's expertise in science R&D. The firm focuses on addressing global challenges through innovative solutions. Their target clients are startups in the deeptech sector. Longwall Ventures aims to support the development of technologies that can make a significant impact on the future.
The Rainbow Seed Fund
UKI2S is one of the largest pre-seed+ funds in the UK, managing £110 million in assets under management. The fund focuses on investing in early-stage businesses and spinouts with ambitions to tackle global challenges in sectors such as defence, engineering biology, fusion, and space. UKI2S adopts an impact-first approach, supporting its portfolio companies not just financially, but also through ongoing mentoring, recruitment, and fundraising strategies. By embracing risk and leveraging partnerships, UKI2S aims to drive innovation and deliver sustainable solutions for a better future.
What's next for Mirico?
The substantial enterprise-level funding Mirico has achieved positions it for significant scaling and technological advancement. With a focus on continuous methane emissions detection, the company is poised to expand its market reach and further develop its laser sensor technology. This strategic backing will likely fuel research and development, enhance operational capacity, and support broader adoption of its solutions across the energy sector, contributing to global decarbonization goals.
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