Plastometrex – a Cambridge-based company that develops advanced materials testing solutions has recently closed its seed investment round. The round was led by Element Materials Technology (Element), a global leader in product and qualification testing, with participation from Vanneck EIS and Reimagined Capital.
Founded by a team of leading materials scientists, Plastometrex’s advanced software platform has been designed to make mechanical materials testing simpler, faster and cheaper, whilst providing users with rich and actionable data sets. The testing solutions under development combine expertise in materials science, advanced numerical modelling, optimisation algorithms and machine learning methods.
Their first product, launched in June 2020, is the Indentation Plastometer which measures full stress-strain curves and metal strength parameters from a rapid and non-destructive indentation test. By combining the very best attributes of tensile testing and hardness testing into a single technical solution, Indentation Plastometry is set to provide a wide range of industries with greater access and deeper insights into the mechanical properties of their materials and products.
Plastometrex’s new funds will allow the team to roll out their flagship product to a variety of key markets, with a focus on R&D facilities, testing laboratories, automotive, aerospace, and primary metal producers. Beyond commercial expansion, the investment will fund the development of a full product ecosystem covering the measurement of plasticity parameters, creep parameters, and residual stresses. Portable measurement devices are also planned.
Commenting on their seed round, Dr James Dean, Co-Founder and CEO of Plastometrex said
“We are very excited to close our seed investment round. Element is a world leader in the Testing, Inspection and Certification sector, and it’s clear that partnering with them will accelerate all aspects of our business. We look forward to growing the business with their expert support.”
Jo Wetz, CEO at Element said
“The Plastometrex team are world leading in their field and their potentially disruptive technologies are set to make a real impact in the mechanical testing sector. We look forward to working with the team to support their ambitions of bringing their unique product ecosystem to the market.”
About Plastometrex Ltd.
Plastometrex is an innovative materials testing company developing software-powered and automated mechanical testing solutions for a wide range of industries. Founded in 2018, the company combines state-of-the-art modelling techniques with bespoke hardware systems to create products that give customers quicker and more flexible access to the critical mechanical properties of their materials and products. For more information visit www.plastometrex.com.
Element is one of the world’s leading independent providers of materials and product qualification testing, inspection and certification services to the global Aerospace; Transportation & Industrials; Energy; and Fire & Building Products sectors, where failure in service is simply not an option.
We exist to help our customers make certain that their materials, products and systems are safe, quality, compliant and ultimately fit for purpose, leveraging almost 200 years of testing experience and our global testing capabilities.
On December 31, 2019 Element acquired PCTEST and announced the creation of a fifth sector – Connected Technologies – to provide leading global technology customers with wireless device and application testing and certification services. www.element.com