# Spectricity

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/spectricity

- Industry: Electronics
- Headquarters: Mechelen, Belgium
- Website: www.spectricity.com
- Total disclosed funding: $25M
- Latest round: Series C (Jul 10, 2023)
- Investors on record: 6

## About

Spectricity is a Belgium-based company specializing in advanced spectral sensing solutions for mobile devices using CMOS technology, primarily focusing on enhancing imaging capabilities for various consumer electronics.Founded in 2018 in Mechelen, Belgium, Spectricity develops cutting-edge spectral imaging solutions. The company has undergone strategic growth, raising EUR 14.000 mn in Series B funding on August 3, 2021, from investors including Atlantic Bridge and Capricorn Partners. The company's founders are Jonathan Borremans and Ruben Lieten, with Vincent Mouret serving as CEO.Spectricity specializes in the development of advanced spectral sensing solutions tailored for high-volume and mobile devices, primarily utilizing CMOS technologies. Their flagship product, the S1 Multispectral Image Sensor, represents a pioneering innovation in miniaturized, mass-manufacturable mobile spectral imaging technology. This product incorporates a compact camera module with a specially designed lens optimized for capturing accurate spectral responses, enabling point-and-shoot spectral imaging for mobile devices. The S1-M camera module and its accompanying S1-A Accessory Device offer seamless connectivity via a USB interface, catering to end-users in markets such as personalized cosmetics and e-commerce. With applications extending to various consumer electronics and mobile platforms, Spectricity's products are actively marketed in regions including North America, Europe, and Asia, focusing on industries that require enhanced color fidelity and advanced imaging capabilities.Spectricity's revenue model centers around B2B transactions, particularly through partnerships and direct sales to manufacturers and developers of mobile devices and imaging technology. The company’s main offerings, including the S1 Multispectral Image Sensor and S1-A Accessory Device, are positioned as essential components for enhancing camera performance in smartphones and other devices. Transactions typically involve bulk purchases, where clients integrate Spectricity’s products into their systems, benefiting from advanced features such as improved color accuracy and spectral analysis. The company cultivates relationships with technology firms and OEMs (Original Equipment Manufacturers) to ensure a steady market presence and secure long-term contracts, which reinforces their position in the competitive landscape of imaging technology.Spectricity plans to utilize the EUR 14.000 mn raised in Series B funding to accelerate the development and mass production of hyperspectral sensors and imagers for high-volume, low-cost applications in wearables, smartphones, and IoT devices. The company is focused on launching upcoming products that enhance imaging features, with targeted expansion into new markets in North America, Europe, and Asia by 2023.

## Funding rounds

- Series C, Jul 10, 2023, $5.5M — Capricorn Partners, Imec.xpand, Xtrion NV
- Series C, Mar 23, 2021, $15M — Capricorn Partners, Atlantic Bridge, Imec.xpand, Shanghai Semiconductor Equipment Material Industry Investment Fund, Xtrion NV
- Series B, Jun 1, 2018, $5.1M — R&S Consulting, Imec.xpand

## Investors

- R&S Consulting — Series B
- Imec.xpand (https://capitalatlas.ai/funds/imec-xpand) — Series B, Series C
- Capricorn Partners (https://capitalatlas.ai/funds/capricorn-partners) — Series C
- Atlantic Bridge (https://capitalatlas.ai/funds/atlantic-bridge) — Series C
- Shanghai Semiconductor Equipment Material Industry Investment Fund — Series C
- Xtrion NV — Series C