Spectral Edge seed investment round led by The Rainbow Seed Fund and Iceni
July 18, 2014
Spectral Edge has announced the completion of a £300K financing round led by the Iceni Seedcorn Fund and the Rainbow Seed Fund managed by Midven.
Spectral Edge was founded in 2012 as a spin-out from the University of East Anglia to exploit novel image fusion technology developed by Professor Finlayson’s ‘Colour Lab’. Image fusion is a large field and refers to the process of combining many different images — often using different modalities such as visible light, near infrared, x-rays and thermal imaging — into a single display image. Applications for image fusion can be found in photography (RGB + near infrared), remote sensing (merging the hundreds of bands from satellite images) and medical imagery (in diffusion tensor imaging).
While Spectral Edge has developed a platform technology, the first target application of the company is to treat colour deficiency as an image fusion problem: fusing all the colours that colour normals see to make a new image which induces a similar perception in those suffering from poorer colour vision. A key component of the Spectral Edge technology is the ability to fuse images that appear much improved to those who suffer from poorer colour vision, whilst at the same time making sure the images remain acceptable for everyone else. Spectral Edge delivers “colour clarity for all.”
This funding will provide working capital to enable Spectral Edge to expand its team, complete the development of its Eyeteq product-line and take it to market.
Commenting on the investment, Mark White, investment director of Midven’s Rainbow Seed Fund said, “The appeal of this technology to such a large market makes this potentially an exciting investment for Rainbow. Spectral Edge has already shown traction within its intended market and possesses a comprehensive patent portfolio that will allow it to maximise the scope of its technology.
Dr Robert Swann, chairman of Spectral Edge commented: “Midven and Iceni have excellent records of supporting early stage technology companies and we are delighted to have them on board at this exciting stage in our development.”