A Surrey-based tech company which has developed breakthrough software capable of modelling the behaviour of fluids is set to grow, after securing funding through the Surrey Economic Growth Fund.
Morpheus Fluid, based at Surrey Research Park in Guildford, has developed an algorithm which will help engineers understand how liquids and gases move. It creates digital simulations of things like air flowing over a car, water moving through pipes or even airflow in the human body. Its technology aims to make these simulations faster and easier than traditional methods, helping companies test ideas on a computer before building them in real life.
Co-founder Justin Read said: “We have an exciting new software algorithm for modelling fluids – and what’s really special is we make complicated simulations of those fluids much easier. That allows companies to optimise their products – it could be cars, or aircraft, or flood defence barriers – all in the computer, before they ever build the thing in the real world. And that means better products, faster to market, and more efficient, high-productivity outcomes.”
Having created the software, and tested it with major companies in the field, the business is now focused on the next critical step: scaling commercially.
“We now need to productise it, get it out there, and start making scalable sales,” Justin said. “This grant is really going to help us do that – give us the resources to develop that SaaS wrapper and start getting us to revenue, profit and growth.”
The ripple effect of the funding
The funding is expected to have a ripple effect well beyond the business itself. As Morpheus scales, Justin anticipates taking on additional software engineers and sales staff, contributing to both the local and national economy. The technology also promises wider benefits for the industries and businesses that adopt it.
“There’s the knock-on impact on all of the businesses that we work with,” he said. “More efficient products getting to market faster helps with climate challenges, helps other companies, and ultimately helps customers in their daily lives.”
He added that the backing from the Surrey Economic Growth Fund sends an important signal to the wider investment community.
“This has been a hugely transformative thing for us, because not only is the grant enabling us to productise our exciting new deep tech, but it also helps send a message to other investors and companies out there that we’re serious – we’re really getting off the ground,” he said. “I think this grant will be transformative in helping to get us to the next phase of our business. Without it, we’d be moving much more slowly. Hopefully, we’ll achieve in months what might otherwise have taken well over a year.”
The Surrey Economic Growth Fund
To date almost £2 million has been awarded to dozens of recipients across the county via the Surrey Economic Growth Fund. This funding has helped to unlock significant match funding and private investment, growing Surrey’s economy by £9 million.
Although the Growth Fund is now closed to new applications, any Surrey business looking for funding or help to grow can receive fully-funded support from Business Surrey. Get in touch to find out more via our Contact us form.
