Midven lead investment charge into image fusion firm

MIDVEN has led a £300,000 investment round into spin-out technology company Spectral Edge.

The Birmingham-based venture capital firm invested through the Rainbow Seed Fund, which it manages.

The Iceni Seedcorn Fund was a co-investor.

Spectral Edge was founded in 2012 as a spin-out from the University of East Anglia to exploit image fusion technology developed by Professor Finlayson’s ‘Colour Lab’.

Image fusion refers to the process of combining many different images – often using different modalities such as visible light, near infrared, x-rays and thermal imaging – into a single display image.

Applications for image fusion can be found in photography, remote sensing and medical imagery.

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.”

Dr Robert Swann, chairman of Spectral Edge said: “Midven and Iceni have excellent records of supporting early stage technology companies and we are delighted to have them on board at this exciting stage in our development.”