DURHAM – SWIR Vision Systems Inc., a Triangle-based company spun out of RTI International in 2018, has closed a $5 million Series A financing round.
“We look forward to expanding our business in the industrial imaging market,” said George Wildeman CEO, SWIR Vision Systems, in a statement.
The company noted that the round included participation from new and existing investors.
An SEC filing notes that 98 investors participated in the round, and that the round raised a total of $7,805,795.
“We are appreciative of this strong vote of investor confidence in our team and our technology,” said Wildeman. “The reception we’ve encountered in the industry has been extraordinary.”
The technology developed by the company includes what it calls “next generation” image sensor solutions that have applications within the industrial automation and autonomous vehicle industries.
The image sensor solutions are already in use inspecting “high volume production semiconductor chips in the world’s largest semiconductor chip fab,” the company said in a statement. The company noted that its patented sensors are based on “quantum-dot photodiode sensor design.”
Investors in the company include RTI International, Carolina Angel Network, Oval Park Capital, and AAC Technologies, according to a statement.
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According to the SEC filing, the company was founded in 2018. The company raised $1 million in a mixture of equity and debt financing in March 2018, added another $500,000 the following year, and added more than $1 million in debt at the end of 2019, according to SEC filings.
“We are also pleased to support SWIR Vision’s cutting-edge, CMOS-based Acuros® CQD® image sensors which promise to usher in a new era of advanced 2D and 3D imaging sensors that meet the challenging cost and performance requirements in key strategic markets such as automotive, consumer electronics, and industrial imaging,” said Antonino Parrinello, Head of Corporate Development at AAC Technologies, an investor in the company.
According to its statement, SWIR Vision will allocate the Series A capital to advance the company’s sensor solutions and grow the company’s camera business globally. The company also noted in its statement that it planned to deploy its technology within industrial and defense markets and will seek strategic customers in consumer electronics, automotive, and advanced sensor markets.
