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
*********
- Legal Name Modus Subsea Services Limited
- Date of Incorporation 26 Oct, 1987
- Jurisdiction DARLINGTON, COUNTY DURHAM
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Annual Revenue
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Net Profit
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EBITDA
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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. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
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.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Debt – Conventional — $6.2M
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First Round
First Round
(30 Jun 2016)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr, 2023 | Amount | Debt – Conventional - Modus Ltd | Valuation |
investors |
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| Jun, 2016 | Amount | Seed - Modus Ltd | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Asset investment management and financial services are provided to clients.
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Founded Year | Domain | Location | |
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Offers marine seismic services including data acquisition and subsurface imaging techniques.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Modus Ltd
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Modus Ltd
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Modus Ltd Comparisons
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. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Provider of AI-driven ROVs and services for inspection of ships
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| domain | founded_year | HQ Location |
AI-based robotic analysis solutions for marine applications are provided.
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| domain | founded_year | HQ Location |
Provides data collection technology for marine tracking systems
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| domain | founded_year | HQ Location |
Provider of marine underwater robotics inspection platform
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| domain | founded_year | HQ Location |
Provider of remotely operated vehicles and unnamed systems for underwater inspections
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| domain | founded_year | HQ Location |
Provider of an unmanned underwater robot
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Modus Ltd
Frequently Asked Questions about Modus Ltd
When was Modus Ltd founded?
Modus Ltd was founded in 2008 and raised its 1st funding round 8 years after it was founded.
Where is Modus Ltd located?
Modus Ltd is headquartered in Darlington, United Kingdom.
Who is the current CEO of Modus Ltd?
Nick Tompkins is the current CEO of Modus Ltd.
Is Modus Ltd a funded company?
Modus Ltd is a funded company, having raised a total of $6.7M across 2 funding rounds to date. The company's 1st funding round was a Seed of $6.7M, raised on Jun 30, 2016.
How many employees does Modus Ltd have?
As of Sep 30, 2022, the latest employee count at Modus Ltd is 134.
What does Modus Ltd do?
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.
Who are the top competitors of Modus Ltd?
What products or services does Modus Ltd offer?
Modus Ltd offers MantaRay, MNode, and MDesign.
Who are Modus Ltd's investors?
Modus Ltd has 2 investors. Key investors include Gordon Brothers, and PXGEO.