Spectral Edge fuses $510,000

Spectral Edge, a spin-out of East Anglia University, has secured £300,000 ($510,000) from the Iceni Seedcorn Fund and Birmingham, England-based investment firm Midven’s Rainbow Seed Fund.

Spectral Edge commercialises new image fusion technology. Image fusion is the process of combining different images into one, with applications ranging from photography to medical imaging. Based on research at the university’s Colour Lab by professor Graham Finlayson – not to be confused with the 20th century British photojournalist of the same name – the company was founded in 2012.

The cash injection will fund the expansion of Spectral Edge’s team, complete development of it products and bring the Eyetrq range to market.

The Rainbow Seed Fund is a £24m ($40m) venture capital fund aimed at early-stage science, technology and synthetic biology companies launched at public research universities. Iceni is a £4m ($6.80m) seed fund aimed at spin-outs of East Anglia and Essex universities, as well as the John Innes Centre, Sainsbury Laboratory, Institute of Food Research and Plant Bioscience.

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.”