Amadeus Capital Partners has led a second round venture investment of £6 million in TeraView Ltd, a Cambridge-based imaging equipment company. First round investors, TTP Ventures, Cambridge Gateway and Quester are also participating in this round.
TeraView has developed a unique technology to emit and detect THz (Terahertz) light, which lies at frequencies between infrared and radio waves, specifically for a range of commercial and security applications. The company designs, manufactures and sells its equipment and has 34 patents granted or pending, making it the leading company in this field.
TeraView has pioneered the use of THz in 3D scanning technology – before the company’s breakthroughs, THz could not be applied to solve ‘real world’ problems. TeraView’s technologies have enabled the resource to be harnessed for a wide range of applications for the first time including, in the security industry, the detection of non-metallic and biological weapons and, in the pharmaceuticals industry, enabling real-time quality assurance on the distribution of specific pharmaceuticals in a tablet. FDA regulation on quality assurance and control is a significant driver for the adoption of TeraView’s equipment by pharma companies, to whom TeraView markets direct and through Bruker Optics. It is anticipated that TeraView’s technologies will, in time, be used in other applications including the early detection of tumours.
TeraView was spun out of Toshiba Research Europe Laboratories in Cambridge in 2001 by Don Arnone, as Chief Executive, and Professor Mike Pepper, of Cambridge University’s Cavendish Laboratories, as Chief Scientist. The founding team worked together for many years prior to the spinout, and was joined last year by John Bradshaw, former FD of Gyrus Group PLC, as CFO. The team will be further augmented as the business grows.
Commenting on the investment, Amadeus Director Hermann Hauser says: “This company started by undertaking development work specifically in response to commercial demand and funding and has, as a result, identified several financially attractive opportunities. TeraView’s technologies lead the world in the generation and detection of THz light and, with first mover advantage, the company looks set to build a significant business.”
Commenting on the investment, CEO Don Arnone says: “We are delighted that Amadeus, as well as our existing investors, have chosen to back TeraView at a time when we are successfully taking our technology towards full commercial exploitation. Their support is crucial if the company is to capitalise on its success in launching the world’s first Terahertz products to generate revenue in commercial applications using this unique part of the radio and light wave spectrum.”
Commenting on the investment, TTP Ventures Chairman David Connell says: “TeraView is without doubt the world’s leading company in this important new field. It has the potential to become one of Cambridge’s greatest success stories. We are delighted that Amadeus are leading the new round to help it realise this potential.”