£1.5m clinched by Phase Vision
Phase Vision, a Loughborough University spin-out and industrial inspection instrumentation business, has closed a £1.5m funding round.
The round was led by Qi3 Accelerator and Octopus Investments.
Phase Vision's products are used in the aerospace, automotive and nuclear industries to manufacture and test systems.
The company's chief executive officer Ralph Weir said: "I'm delighted to have received this support from our existing investors and the business angel community.
"We have an exciting and innovative product which is now being adopted by major manufacturing companies and I'm keen to see it roll out around the world.
"Our team has worked had to get Phase Vision to this stage and now we have the resources to go for growth."
The development follows a successful presentation at a London Business Angels event.
Qi3 Accelerator offered to work with Phase Vision and existing investors Octopus, Lachesis and Loughborough University to bring together a syndicate.
