Specim Nets €5.3M for Hyperspectral Imaging Expansion

Spectral Imaging Oy Ltd. (Specim) has received €5.3 million (about $5.9 million) in growth financing to expand into intelligent hyperspectral measurement.

The venture capital financing is provided by Tekes, the Finnish Funding Agency for Innovation, with R&D financing provided by Teknoventure Management Oy.

"Many applications which have originally been developed for high-end research or defense administration purposes have in time begun to serve more our everyday life," said Specim founder Timo Hyvärinen. "We see clear signs that this is also the case for hyperspectral imaging. We want to be early movers in these new markets thanks to our R&D efforts."

Specim has manufactured demanding measurement systems in the past, ranging as high as €1 million in value. It is a spin-off of the VTT Technical Research Center of Finland Ltd.

In addition to airborne remote sensing systems, Specim provides imaging spectrographs, spectral cameras and hyperspectral imaging equipment for color measurement, recycling, geological core logging, process analytical technology, life sciences, chemical imaging and forensics.