Indeximate growing quickly to secure future for subsea power cables with investment from Propeller Ventures

Posted on 27 January 2025

This funding builds on our commercial position and secures the cashflow to accelerate our plans to transform the approach by which #subseacables are maintained, making failure a thing of the past.   The investment will support hiring for exciting key positions to deliver the Scattersphere to customers this year, and will allow us to expand our work on Technology Verification, which is essential for widespread user adoption of our measures to profile cable health. This sums to significant savings on operations and maintenance for our customers.  We will also accelerate our move towards the delivery of “Sensing as a Service” – our envisaged future of multiple route exploitation of #fibresensing capabilities.

We are really proud of what we’ve accomplished in our first two years of operation having made a significant impact with our customers on their state of knowledge of #powercablemonitoring for #offshorewind, #interconnectors and #maritimesecurity.   Our next steps are just as exciting – proving that we can deliver, expanding where we can add value and doing our part to help build a new industry. Propeller Ventures are a great partner for Indeximate sharing a commitment to the oceans and a passion for delivering clean power.  We recognise in Propeller a key partner for this next exciting stage of growth.

Chris Minto, Indeximate Director  “In our search for an investment partner we were looking for a team that matches our own business objectives and ethical stance: a commitment to the oceans and a commitment to clean energy.   We’re delighted to have Propeller on board and we are all hugely looking forward to working with partner Steven Fox on this next critical stage of our growth.  His excitement is infectious and encourages us to keep widening our vision.”

“We constantly speak with energy customers who would benefit from working with Indeximate. An extraordinary amount of the world’s energy production and distribution is planned to go through these cables in the coming years-and failure is something neither the climate nor customers should endure.” Said Steven Fox, Partner at Propeller who led their investment in Indeximate. “The first-class team at Indeximate are customer-first experts who can optimize, avoid failure and provide true domain awareness for their customers.”

We have a long list of individuals to thank who have helped us on our path to this point – we’ve hugely benefitted from our technology accelerators; The UK’s  ORE Catapult Launch Academy / New York's Offshore Wind Innovation Hub / Innovate UK Business Connect and have benefited from the input and advice of some great mentors and advisors, Chandila Fernando, Anthony Cortese, Chris del Valle to name a few who have directly supported and encouraged us throughout 2024.

We’re excited to grow our team and our customer pipeline. If interested in careers at Indeximate please follow us on LinkedIn. Customers and partners, reach out to speak with an expert. enquiries@indeximate.com

https://indeximate.com/investment-announcement/ 

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