Department of Engineering / News / Cambridge spin-out Flusso acquired for £28 million

Department of Engineering

Cambridge spin-out Flusso acquired for £28 million

Cambridge spin-out Flusso acquired for £28 million

Co-founders Dr Andrea De Luca, CEO (on the left) and Professor Florin Udrea, CTO.

Flow-sensing company Flusso Limited has been jointly acquired for £28 million by a company and a global private equity fund focused on investing in semiconductor companies and other high-tech industries.

This acquisition will help to accelerate the commercialisation of our flow sensing product lines; to fast-track the development and launch of our gas sensor products for environmental applications; and allow us to increase the investments and engineering resources allocated to developing new sensor innovations.  We will also get improved access to markets and customers, particularly in Asia.

Dr Andrea De Luca

The transaction will enable the acquirers to expand their current product portfolio into flow and environmental sensing, and to establish a European footprint in Cambridge, UK to add to its existing facilities in the US and China. It will also give Flusso immediate access to significant additional expertise and capacity in the design, development and manufacture of new semiconductor devices.

Flusso will continue to operate under its own brand name and with its existing management team under the direction of CEO and company co-founder Dr Andrea De Luca.

Flusso was spun out of the Department of Engineering at the University of Cambridge in 2016, with support from Cambridge Enterprise, the University’s commercialisation arm.  Co-founded by Professor Florin Udrea (co-founder of CamSemi, Cambridge CMOS Sensors, Cambridge Microelectronics, and Cambridge GaN Devices), Professor Julian Gardner (co-founder of Cambridge CMOS Sensors and Sorex), and alumni Dr John Coull, and Dr Andrea De Luca, all sensor experts with extensive experience in the semiconductor industry. 

The company completed a significantly over-subscribed Series A round in June 2020, led by Parkwalk Advisors, to raise US $5.7 million (£4.65 million). Flusso launched its first product, the FLS110, as the world’s smallest flow sensor targeting high-volume consumer, industry and medical applications later that year.

Goodwin Procter provided legal counsel to Flusso on the sale, with the two firms Baker McKenzie and Katten representing the private equity fund.

"Everyone at Flusso is excited by what this acquisition means for our business as we power into a new phase of development.  It will help to accelerate the commercialisation of our flow sensing product lines; to fast-track the development and launch of our gas sensor products for environmental applications; and allow us to increase the investments and engineering resources allocated to developing new sensor innovations.  We will also get improved access to markets and customers, particularly in Asia." Dr Andrea De Luca

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