Imec Spin-Off Spectricity Raises €14M Series B Funding

BusinessWire: An Imec spin-off Spectricity announces a €14M ($16M US) Series B funding round to accelerate the development and mass production of hyperspectral sensors and imagers for high-volume, low-cost applications from wearables to smartphones and IoT devices.

“I am pleased to see Spectricity growing and closing their second financing round, three years after its creation as imec spin-off,” said Luc Van den hove, President and CEO of imec. “Spectricity’s products are based on unique imec technology, and we will continue to maintain a strong link between our R&D and Spectricity’s development to enable a lasting competitive edge for Spectricity’s products.”

Following more than 10 years of research at imec, Spectricity was founded in 2018 by a team including research engineers of imec. CEO Vincent Mouret who joined the company last April and Chairman of the Board, Pieter Vorenkamp, ex-SVP of Broadcom, helped to productize the technology and scale the company.