Imec.xpand has returned for a $16m series B round that will allow Spectricity to accelerate the development of its sensors and imagers.
Spectricity, a Belgium-based developer of hyperspectral sensing technology developed at Imec, has raised €14m ($16m) in series B financing from investors including Imec.xpand, a venture capital fund affiliated with the research institute.
The round also included Atlantic Bridge, Xtrion, the Capricorn Partners-managed Capricorn Fusion China Fund and the Shanghai Semiconductor Equipment and Material Fund.
Founded in 2018, Spectricity is working on hyperspectral sensors that can be integrated in high-volume, low-cost products such as smartphones, wearable and internet-of-things devices. The technology has applications in areas such as food, augmented reality and healthcare.
The series B capital will go towards accelerated technology development and mass production of Spectricity’s sensors and imagers.
Peter Vanbekbergen, partner at Imec.xpand, said: “The formation of Spectricity is a prime example of remarkable semiconductor innovation born in Europe, based on unique technology developed at Imec.
“The best companies start with a great technology base, with founders coming together to identify a big problem and line up an expert investment team to help them succeed. As part of that team, we are focused on providing Spectricity with unique value and networking.”
Imec.xpand and Xtrion were identified as returning investors for the series B round, which brought Spectricity’s total funding to €20m. Further details could not be ascertained.
