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Flusso receives Growth Works funding boost
Flusso has been named as one of the first companies to receive a funding boost from Growth Works, a new regional business, skills and investment development programme.
Growth Works was launched last year by the Cambridgeshire & Peterborough Combined Authority and Business Board, backed with UK government and EU funding, to help support high-growth businesses and skills within the region. It is also supporting local economic recovery in the wake of the Covid-19 pandemic.
Flusso has been awarded grant funding totalling almost £46,000. It is made up of a capital expenditure award allowing the company to purchase additional test equipment for its in-house new product development and testing facilities; and a revenue grant covering 50% of the costs for an agreed sales and marketing project.
Flusso has used the second grant to part-fund its investment in a dedicated CRM and marketing automation system, as well as commissioning an external marketing communications consultancy to help strengthen its online marketing activity.
Austen Adams, chair of the Business Board said: “It is great to see Flusso – another example of our economy’s ability to turn academic innovation into exciting, high growth businesses – going from strength to strength.
“Creating pioneering products is one thing, but successfully bringing them to the marketplace is another, and I’m glad to see the Growth Works investment is making a difference for Flusso.
“This investment is in line with Growth Works’ goal to help break down barriers for growing companies to help them hit their growth targets and in turn support the local economy and create more skilled, productive jobs in the region.”
Andrea De Luca, CEO at Flusso said: “Thanks to the additional funding from Growth Works, Flusso has been able to expand its product development, engineering and commercial capabilities faster than we had originally planned for. The two grants have come just as we are powering into a new phase of commercial activity, while continuing to develop our first gas sensing products towards launch.”
Over the last few months, Flusso has ramped up its product sales and marketing operation with the appointment of seven distributors, and is now dealing with an exceptional level of customer enquiries for its unique FLS110 flow sensor from all regions. It has also showcased the FLS110 at the Consumer Electronics Show in Las Vegas earlier this month.
In addition, the company has advanced into volume production and started shipping to multiple customers across the world; and has expanded its in-house new product development and applications team with additional specialist skills in software engineering, data analytics and project management.
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