In December 2019, the Foresight Williams Technology EIS Fund invested £1.6 million into Oxford University spin-out Mixergy Limited.
Mixergy was founded in 2014 by Peter Armstrong, CEO, and Ren Kang, Head of R&D, following the completion of their PhD research at Oxford University where the duo originally developed the idea during their doctoral research. The team has since grown to 17 staff and built strong relationships with British Gas, a major installer of tanks. Mixergy’s product range gives consumers greater control and oversight of their hot water systems, and a tank that heats up five times faster than a traditional tank.
The growth capital investment will be used to roll out its products across the UK and to bolster its international growth strategy, as well growing the team based at its Oxford head office.
More information on Mixergy is available at https://www.mixergy.co.uk/