Cambridge-based image processing specialist Spectral Edge has snapped up $5.3m (£3.72m) Series A from existing investors Parkwalk Advisors and IQ Capital.
Spectral Edge specialises in image processing. It combines image fusion with machine learning to help develop more of the colour, detail and clarity in a scene. This is done in real-time with a pixel-level, embeddable technology that can be implemented in software or in silicon.
The company will use the new funding to expand the R&D team to 12, with specialisms in image processing, machine learning and embedded software development. It will also support product development, helping embed the technology into smartphones, webcams and security applications alongside the existing products for the TV & display industries.
Rhodri Thomas, CEO of Spectral Edge, commented: “We are delighted to have the continued support of IQ Capital and Parkwalk Advisors as Spectral Edge moves to the next phase of growth and we see our technology reaching the marketplace.
“The opportunities for market application of our technology are hugely exciting, in particular in smartphones, TV picture processing and in security surveillance devices. This funding will allow us to continue to realise real-world applications as we further strengthen our technical team,” he added.
The company was previously a finalist at the BT Sport Innovation Award, where its technology was applied to an solution for helping colour-blind people watch sports streams on TV.
Alastair Kilgour, CIO at existing investor Parkwalk Advisors, explained its investment: “The technological progress at Spectral Edge in developing next-generation image fusion has been substantial since we made our first investment and with this fund raise commercial engagement with companies and industries looking for an edge in image enhancement, such as smartphones and security cameras, will be escalated.”
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