The company is looking to enhance its position in the water and gas distribution sectors, while expanding its presence across the oil and gas supply chain.
Oxford Flow produces fluid handling equipment designed to enhance efficiency, reliability and performance by leveraging its roots in Oxford University.
The London-based fund management firm, Parkwalk was the single largest investor with £2.5 million (€2.8 million). Other investors included Oxford Sciences Innovation, the Institute of Mechanical Engineering and Simon Henry, former chief financial officer at Shell. The total invested reached £6.1 million (€6.9 million).
“This funding will provide a runway for the next two to three years as we grow our business in North America, Central America and the Middle East, driving product development and market readiness for our valves, while we expand our offering,” said Neil Poxon, Oxford Flow CEO.
He added that the money will also allow the company to grow in North America, Central America and the Middle East over the next two to three years. Activities will include product development and market readiness for the company’s valves while it expands its product offering.
“This funding allows us to expand into new sectors in three stages. Initially, we will push further into water and gas distribution – where we already have significant traction – then branch out more widely across upstream, midstream and downstream oil and gas. After that, we plan to expand into the wider industrial process sectors – which include a huge range of applications for our technology – such as chemicals, power generation, food & drink, marine and construction.”