About Modus Ltd
Modus Ltd is a company based in Darlington (United Kingdom) founded in 2008 was acquired by PXGEO in April 2024. Modus Ltd has raised $6.7 million across 2 funding rounds from investors including Gordon Brothers and PXGEO. The company has 134 employees as of September 30, 2022. Modus Ltd offers products and services including MantaRay, MNode, and MDesign. Modus Ltd operates in a competitive market with competitors including Rovco, Vaarst, Terradepth, Planys Technologies and EyeROV, among others.
- Headquarter Darlington, United Kingdom
- Employees 134 as on 30 Sep, 2022
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Sectors
Transportation, Automotive & LogisticsIndustrial Goods & Manufacturing
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Email
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Phone
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Website
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Social
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- Legal Name Modus Subsea Services Limited
- Date of Incorporation 26 Oct, 1987
- Jurisdiction DARLINGTON, COUNTY DURHAM
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Annual Revenue
Not available
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Net Profit
Not available
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EBITDA
Not available
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Total Equity Funding
$6.7 M (USD)
in 2 rounds
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Latest Funding Round
$6.23 M (USD), Debt – Conventional
Apr 05, 2023
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Investors
Gordon Brothers
& 1 more
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Employee Count
134
as on Sep 30, 2022
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Acquired by
PXGEO
(Apr 22, 2024)
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Products & Services of Modus Ltd
Modus Ltd offers a comprehensive portfolio of products and services, including MantaRay, MNode, and MDesign.
Device for faster subsea inspection data via remote operations.
Technology for efficient seismic data acquisition and deployment.
Tools for developing marine autonomy systems and solutions.
Funding Insights of Modus Ltd
Modus Ltd has successfully raised a total of $6.7M across 2 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $6.23 million completed in April 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
Investors in Modus Ltd
Modus Ltd has secured backing from 2 investors, including institutional investors. Prominent investors backing the company include Gordon Brothers and PXGEO.
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Asset investment management and financial services are provided to clients.
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Offers marine seismic services including data acquisition and subsurface imaging techniques.
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Investor details for Modus Ltd
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Investments & Acquisitions by Modus Ltd
Investment portfolio details for Modus Ltd
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Financial Statements - Modus Ltd
Detailed financials for Modus Ltd
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Modus Ltd Comparisons
Peer comparison for Modus Ltd
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Competitors of Modus Ltd
Modus Ltd operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Rovco, Vaarst, Terradepth, Planys Technologies and EyeROV, among others.
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Provider of AI-driven ROVs and services for inspection of ships
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AI-based robotic analysis solutions for marine applications are provided.
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Provides data collection technology for marine tracking systems
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Provider of marine underwater robotics inspection platform
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Provider of remotely operated vehicles and unnamed systems for underwater inspections
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Provider of an unmanned underwater robot
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Detailed competitors of Modus Ltd
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Latest news on Modus Ltd
Complete news archive for Modus Ltd
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Frequently Asked Questions about Modus Ltd
Modus Ltd was founded in 2008 and raised its 1st funding round 8 years after it was founded.
Modus Ltd is headquartered in Darlington, United Kingdom.
Nick Tompkins is the current CEO of Modus Ltd.
Modus Ltd is a funded company, having raised a total of $6.7M across 2 funding rounds to date.
As of Sep 30, 2022, the latest employee count at Modus Ltd is 134.
Modus was founded in 2008 in Darlington, United Kingdom, where unmanned underwater vehicle systems are produced for defense, telecommunication, marine, power, and energy sectors. Hybrid autonomous underwater vehicles, arm-based AUVs, and surveillance models are included in the portfolio, with features such as navigation, sensor-based detection, scanning tools, and video surveillance. Services like subsea operations, asset hiring, and technical support are also provided.
Modus Ltd offers MantaRay, MNode, and MDesign.
Modus Ltd has 2 investors. Key investors include Gordon Brothers, and PXGEO.