About Novosound
Novosound is a company based in Glasgow (United Kingdom) founded in 2018 by Dave Hughes and Richard Cooper.. Novosound has raised $6.24 million across 3 funding rounds from investors including Scottish Enterprise, Foresight Williams Technology (FWT) and Foresight Group. The company has 35 employees as of March 31, 2023. Novosound offers products and services including The Slanj, The Ceilidh, and The Kelpie. Novosound operates in a competitive market with competitors including Silixa, CorrosionRADAR, QLM, Rocsole and Nevada Nano, among others.
- Headquarter Glasgow, United Kingdom
- Employees 35 as on 31 Mar, 2023
- Founders Dave Hughes, Richard Cooper
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Sectors
TechnologyEnergy & Utilities
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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 Novosound Ltd
- Date of Incorporation 19 Oct, 2016
- Jurisdiction EDINBURGH, UNITED KINGDOM
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$6.24 M (USD)
in 3 rounds
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Latest Funding Round
$4.4 M (USD), Series A
Dec 16, 2019
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Investors
Scottish Enterprise
& 6 more
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Employee Count
35
as on Mar 31, 2023
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Products & Services of Novosound
Novosound offers a comprehensive portfolio of products and services, including The Slanj, The Ceilidh, and The Kelpie. 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.
Wireless ultrasound platform for monitoring health metrics
Tool for detecting corrosion in wide-area inspections
Device for bespoke non-destructive testing applications
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Funding Insights of Novosound
Novosound has successfully raised a total of $6.24M across 3 strategic funding rounds. The most recent funding activity was a Series A round of $4.4 million completed in December 2019. 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 3
- Last Round Series A — $4.4M
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First Round
First Round
(23 Apr 2018)
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec, 2019 | Amount | Series A - Novosound | Valuation | Foresight Williams | |
| Jul, 2019 | Amount | Grant - Novosound | Valuation |
investors |
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| Apr, 2018 | Amount | Seed - Novosound | Valuation | Par Equity |
| 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 Novosound
Novosound has secured backing from 7 investors, including institutional and venture fund investors. Prominent investors backing the company include Scottish Enterprise, Foresight Williams Technology (FWT) and Foresight Group. 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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Venture capital and natural capital investments are managed by Par Equity.
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Founded Year | Domain | Location | |
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Founded Year | Domain | Location | |
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Early-stage investment is provided to promising Scottish entrepreneurs.
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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 Novosound
| 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 - Novosound
| 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 |
Novosound Comparisons
Competitors of Novosound
Novosound 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 Silixa, CorrosionRADAR, QLM, Rocsole and Nevada Nano, 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 fibre optic monitoring solutions for the oil and gas industry
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| domain | founded_year | HQ Location |
Provider of corrosion management solution for the oil and gas industry
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| domain | founded_year | HQ Location |
Quantum sensing technology is provided for natural gas leak detection.
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| domain | founded_year | HQ Location |
Tomography solutions for oil and gas pipelines are provided.
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| domain | founded_year | HQ Location |
MEMS-based chemical sensors are developed for diverse applications.
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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 Novosound
Frequently Asked Questions about Novosound
When was Novosound founded?
Novosound was founded in 2018.
Where is Novosound located?
Novosound is headquartered in Glasgow, United Kingdom. It is registered at Glasgow, Scotland, United Kingdom.
Who is the current CEO of Novosound?
Richard Cooper is the current CEO of Novosound. They have also founded this company.
Is Novosound a funded company?
Novosound is a funded company, having raised a total of $6.24M across 3 funding rounds to date. The company's 1st funding round was a Seed of $1.84M, raised on Apr 23, 2018.
How many employees does Novosound have?
As of Mar 31, 2023, the latest employee count at Novosound is 35.
What does Novosound do?
Novosound was founded in 2018 in Glasgow, United Kingdom, within the sensors and imaging sector. Ultrasound probes are supplied for pipeline monitoring, where cracks and physical faults are detected. High-temperature operation is enabled by these sensors. Additional applications encompass non-destructive testing imaging, dental imaging, and medical imaging across various industries.
Who are the top competitors of Novosound?
Novosound's top competitors include QLM, CorrosionRADAR and Nevada Nano.
What products or services does Novosound offer?
Novosound offers The Slanj, The Ceilidh, and The Kelpie.
Who are Novosound's investors?
Novosound has 7 investors. Key investors include Scottish Enterprise, Foresight Williams Technology (FWT), Foresight Group, Par Equity, and Kelvin Capital.
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