Home Anthill Magazine Melbourne Angels invests more than $500K in Sydney mining tech company

Melbourne Angels invests more than $500K in Sydney mining tech company

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Coal mines are  well-known for being challenging to manage – just ask a canary. But, fortunately for our aviary friends, technology has helped improve safety across the coal mining industry, and it’s getting better all the time.

Fortunately, one new technology is making the coal mine a little more manageable, and Melbourne Angels has taken notice, granting more than $500,000 in funding to Vayeron. Recently, Vayeron, a Sydney-based company founded by hazardous materials handling engineer Ryan Norris and electronics engineer Paul Moutzouris, has announced the Smart-Idler (a name that reminds us here at Anthill of most of our colleagues).

Smart-Idler is a wireless, condition-monitoring devices inside the rollers that support conveyor systems at mine sites, shipping ports and processing plants. The low-cost unit rides the rails with material containers, transmitting heat, vibration, and acoustic data back to operators who can make informed decisions about roller maintenance.

A welcome infusion of funding…

Vayeron co-founder and CEO Ryan Norris had this to say about the recent funding from Melbourne Angels:

“We welcome Melbourne Angels as a value adding shareholder in Vayeron – they have been tremendously supportive during the capital-raising process, and we are absolutely sure that our young company will benefit substantially from their experience in technology startups and the consequent guidance they can provide.”

Melbourne Angels’ investment was supported by private investors associated with Ingenuity Electronics Design Pty, Ltd, an electronic design specialty firm in Sydney that has been working on the development of Smart-Idler.

Vayeron co-founder Paul Moutzouris also said, ” The desire of the technical personnel directly involved in the development of Smart-Idler at Ingenuity to become Vayeron shareholders is welcome, and we thank them for their support.”

Melbourne Angels director nominee Bill Grierson added, “Vayeron is a great example of the type of investment our group seeks to make – new, fresh companies that are addressing large, globally available markets with innovative, scalable, and protect-able solutions.”

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