Northern Gritstone, the groundbreaking life sciences and deeptech investment firm chaired by Lord Jim O’Neill, has announced a combined £4 million seed round investment into the optical sensor startup PhovIR. Northern Gritstone is co-leading the investment alongside deeptech specialist SCVC, in what was an oversubscribed round.
Human eyes perceive a very narrow band of the optical spectrum, predominantly colours, yet there is much more information about materials and substances contained in longer wavelengths. The near Infra-Red spectrum contains “optical fingerprints” to identify the constituents of solids, liquids and gases. This innovation is a “platform technology” which has far-reaching applications from human health e.g. detection of drink spiking and other contaminants to industrial safety, pollution monitoring, agriculture e.g. fruit ripeness and beyond.
Although other NIR sensor devices exist they are bulky, difficult to integrate into portable devices and expensive to manufacture. The breakthrough achieved by PhovIR allows this to be manufactured on a silicon chip enabling a small, light and cost-effective solution that has the potential to be incorporated into a smart watch or phone.
Spun-out from the University of Manchester by Dr Tim Echtermeyer, PhovIR has developed a capability based on MEMS (Micro-Electro-Mechanical Systems) technology to create a flexible, portable, low-cost solution that captures a broader optical range. Its software is fully configurable, doing the job of multiple sensors and can be manufactured at scale.
PhovIR is Chaired by Dr Steve Turley, who has over 25 years’ experience dedicated to scaling complex technologies into high growth businesses, including as Chair of Effect Photonics and ex-CEO of Perpetuum.
With the funding, PhovIR plans to bring its first commercial product to market, grow its team, and continue delivering on its vision for making the invisible visible to improve human and planetary health.
PhovIR recently completed Northern Gritstone’s pre-seed program, NG Studios, which has supported PhovIR to refine its commercial strategy as a customer-led organisation ready for growth and successful fundraising.
