Manchester-based Cubic Motion raises £20m from NorthEdge
Computer vision technology firm Cubic Motion has received £20m in investment from private equity firm NorthEdge.
Founded in 2009, the Manchester-based firm has created a range of proprietary technology, including software used for precise tracking in markerless video, stereo, and depth data. This technology is used in the video game industry, plus in real-time applications in social virtual reality and film production.
Dr Gareth Edwards, CEO at Cubic Motion, said: “Aided by NorthEdge’s investment and experience, we will deploy an expanding range of licensed software solutions, bringing real-time vision and animation capabilities direct to our clients and partners, revolutionising the way content is made.”
GP Bullhound, the European technology investment bank, acted as the exclusive financial advisor to Cubic Motion on the deal.
“Gareth and his highly-experienced team of specialists are at the forefront of advanced computer vision, and we see significant opportunities for these technologies to transform digital content creation across a range of rapidly growing markets,” said GP Bullhound director Alexis Scorer.
NorthEdge is an investment management fund based in Birmingham, Leeds and Manchester. It manages £540m of private equity funds and typically invests between £5m and £45m in each business it backs.