Commercialisation firm Fusion IP acquires 39% of Sheffield spin-out Magnomatics.

Fusion IP, a commercialisation subsidiary of the IP Group, has raised its shareholding in Sheffield’s green tech spin-out Magnomatics to 39%.

Fusion, which already held a 31% stake and acts as Sheffield’s tech transfer unit, raised its share after acquiring additional shares for £385k ($596k). The firm previously invested £366k in the firm during a $4m venture round along with parent company the IP Group (£1.06m) and investment firm Yorkshire Finance (£1.06m).

Sheffield-based Magnomatics was also awarded £1m from the…

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