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…
