£1.5m investment deal brings future into focus for imaging pioneer
Specialist expertise in early-stage investment rounds and seed funding gave Harrison Clark Rickerbys the edge when partner Inger Anson, of the firm’s corporate team in Worcester, acted for image fusion pioneer Spectral Edge on a £1.5m investment deal which will help the company to grow.
The Cambridge-based firm which was founded in 2011, arising out of collaborations at the University of East Anglia, has developed innovative image fusion technology, which brings together satellite, visible, thermal and infrared information in one image.
The Phusion technology enhances detail and makes images more accessible. It has been shown to enable colour-blind people to enjoy television, so that coverage which once would have been baffling without colour differentiation – sport, for instance – is accessible.
The funding, from IQ Capital, Parkwalk Advisors and a number of angel investors, will mean that the company can take on more staff, invest more in sales and marketing and further develop its products.
“After having proved the potential of our innovative Phusion technology, this new funding provides Spectral Edge with a springboard for growth,” said Christopher Cytera, the firm’s managing director. “The significant investment from IQ Capital, Parkwalk Advisors, Midven, Iceni and Cambridge angel groups demonstrates their faith in our technology, approach and overall strategy.”
Spectral Edge’s experienced leadership team includes Professor Graham Finlayson, Head of Vision Group and Professor of Computing Science at UEA, Christopher Cytera (managing director) and serial entrepreneur Dr Robert Swann (chairman).