New Motion Labs (NML), a company specializing in drivetrain technology for mobility and industrial markets, has successfully obtained over £890,000 in equity investment from the South West Investment Fund via The FSE Group. This funding aims to support NML’s growth plans and product development efforts. The company, founded in 2015 by Marcel Fowler, focuses on enhancing the traditional chain and sprocket system to reduce wear and energy loss.
NML’s recent funding is part of a larger £1.8 million funding round designed to support various business activities such as product development, sales, marketing, and job creation. The company’s Enduo technology, which has found success in track cycling and e-bike markets, aims to address critical pain points in the industrial sector. NML’s technology has already helped reduce energy consumption and maintenance requirements in applications like cargo e-bikes and shared e-bikes.
Innovative Technology
Enduo technology, developed by NML, re-engineers the conventional chain and sprocket system to enhance lifespan and lower manufacturing costs. The patented technology offers retrofit capabilities, making it adaptable to existing systems. This innovative approach has earned NML several awards and recognitions.
Comparing this to previous investments in similar technologies, it appears NML has a unique edge. Historically, advancements in chain and sprocket technology have been minimal, with significant improvements occurring only sporadically. NML’s comprehensive re-engineering approach, coupled with its focus on both mobility and industrial applications, suggests a broader impact than earlier efforts.
Support from Investors
Damien Murphy, CEO of NML, emphasized the importance of the recent funding, stating:
“This funding marks a pivotal milestone in NML’s journey, enabling us to accelerate our growth trajectory, expand our product offering and further penetrate the industrial market. The FSE Group has been working alongside us to help secure co-investors in a challenging investment market and we are grateful for their belief in our game-changing technology and the support of the South West Investment Fund.”
Ralph Singleton, Head of Equity Investment at The FSE Group, also expressed confidence in NML’s potential, citing their strong R&D capabilities and proven efficacy of Enduo technology.
NML’s objective is to target the global industrial sector, where chain failures can be highly costly. The company aims to provide reliable solutions across various industries, including automotive and food and beverage, leveraging its robust technology to tackle these challenges effectively. This focus on diverse industrial applications sets NML apart from competitors who have typically concentrated on more limited applications.
The new funding will significantly impact NML’s ability to innovate and expand its market reach. By addressing the critical issue of chain failure in industrial applications, NML not only offers a technological solution but also generates economic benefits for businesses through reduced maintenance costs and enhanced operational efficiency. This positions NML as a key player in both mobility and industrial markets, with a promising future ahead.
