Octopus Ventures, an investor in early-stage and expanding companies, has made an investment of GBP1.1m into Phase Vision, a manufacturer of optical inspection solutions for high-speed,
Octopus Ventures, an investor in early-stage and expanding companies, has made an investment of GBP1.1m into Phase Vision, a manufacturer of optical inspection solutions for high-speed, three dimensional shape measurement.
The investment will enable Phase Vision to bring its beta prototype product to market and accelerate its commercial development programme.
The funds allocated were provided by the Octopus Titan 1, 2 and 3 VCTs, Octopus Eureka, and the Octopus Investor Group.
The commercial release of Phase Vision’s products is targeted for mid-2009.
Phase Vision’s automated inspection systems allow for the in-process assessment of complex components, removing traditional bottlenecks in manufacturing processes. It specialises in measuring very large (>100cm) industrial items with free-form or curved surfaces, such as ship propellers and aircraft wings, to tighten manufacturing tolerances, increase throughput and reduce waste.
Phase Vision’s clients include some of the biggest names in the automotive, aerospace, chemical and medical device engineering sectors. The market for large scale measurement with micro-scale accuracy is estimated to be worth around GBP2bn per year, with growth of around six per cent per annum.
Alex Macpherson, chief executive of Octopus Ventures, says: ‘There is a huge opportunity to implement Phase Vision’s technology across a wide range of industries, especially in the science and engineering sectors. Having established itself as a potential leader in its field, we look forward to the company’s impact on the metrology market.’
