Phase Vision, a manufacturer of optical inspection tools, has received £1.1 million from funds managed by Octopus Ventures.

Phase Vision, a manufacturer of optical inspection tools, has received £1.1 million from funds managed by Octopus Ventures.

The money was provided by the Octopus Titan VCTs 1, 2 and 3, Octopus Eureka, and the Octopus Investor Group, a network of private individuals who invest alongside Octopus’s funds. It gives Octopus Ventures a ‘significant minority stake’ in the business, whose products for high-speed, three-dimensional shape measurement are to be commercially released later this year.

Alex Macpherson, chief executive of Octopus Ventures, says, ‘There is a huge opportunity to implement Phase Vision’s technology across a wide range of industries, especially in the science and engineering sectors [and in] the metrology market.’

Phase Vision specialises in the measurement of large industrial items with free-form or curved surfaces, such as ship propellers and aircraft wings. It claims its products can measure such objects to ‘micro-scale accuracy’ and with greater cost efficiency than existing processes.