Mechelen, Belgium-based Spectricity, is a spin-off of IMEC (Interuniversity Microelectronics Centre), a leading R&D centre in nano-electronics and digital technologies in Belgium. The company develops integrated optical spectral sensing solutions in visible and near-infrared spectral range (400 nm-1050 nm).
Spectricity’s spectral solutions offer sensing products for precision agriculture, food analysis, health, and mobile phones, enabling industries with an affordable sensing product.
Spectricity secures Series B round
In a recent development, Spectricity announced that it has raised €14M in its Series B round of funding. With this round, the company has now raised a total of €20M in funding, to date.
The investment saw participation from global investors including Atlantic Bridge, Capricorn Fusion China Fund, Shanghai Semiconductor Equipment, and Material Fund (SSMEF) alongside Belgium Series A investors imec.xpand and XTRION.
Spectral sensing – from lab to consumer
Spectricity is a fabless semiconductor company creating spectral sensing solutions for high-volume mobile and consumer devices, using low-cost CMOS technologies. It’s patented, spectral sensing technology enhances existing camera sensors by fusing data with other image and 3D sensors in the devices to provide augmented real-time data, advanced user environment interfacing, and big data analysis.
The company’s miniaturised sensors enable new unimaginable applications from skin health to skin cosmetics and agricultural, AR, food analysis, and more.
According to Spectricity, hyperspectral sensing allows devices to “see” beyond what the naked eye can see. The sensor can tell you your heartbeat, the amount of oxygen in your blood, or the hydration of your skin, while hyperspectral imagers can be used to match your skintone to cosmetics or to determine whether your food is fresh.
Spectricity’s patented, spectral sensing technology can make professional grade sensor and imager solutions small and low power enough to fit a smartphone or a wearable device. This technology will bring a wide array of health, cosmetic, food and augmented reality applications to the market.
According to a recent March 2021 paper on the compact spectrometer systems market, emerging chip-size spectrometers are going to fuel growth to more than 300 million chips per year in 2024. New type spectrometers will be as small as semiconductor chips.
Following more than ten years of research at imec, Spectricity was founded in 2018 by a team including research engineers of imec. Semiconductor industry veterans, CEO Vincent Mouret, who joined the company last April and Chairman of the Board, Pieter Vorenkamp, ex-Senior Vice President of Broadcom, helped to productise the technology and scale the company.
Luc Van den hove, President and CEO of imec, says, “Spectricity’s products are based on unique imec technology, and we will continue to maintain a strong link between our R&D and Spectricity’s development to enable a lasting competitive edge for Spectricity’s products.”
Use of the funds
The proceeds from this round will help Spectricity to further accelerate the development and mass production of its hyperspectral sensors and imagers for high-volume, low-cost applications from wearables to smartphones and IoT devices.
Vincent Mouret, CEO of Spectricity, says, “This is a major milestone for Spectricity and the deployment of our chip size hyperspectral sensor and imager solutions for mass-market mobile devices and applications. This new round of financing will enable us to significantly accelerate our high-volume manufacturing, hire key talent and continue to expand our partnerships.”