On 3 August, Spectricity NV, a leading provider of hyperspectral sensing solutions for mobile and consumer devices, announced an EUR 14,000,000 (USD 16,000,000) Series B funding. The NautaDutilh team assisted Spectricity in negotiating the commercial and legal aspects of the transaction.
Spectricity is a Belgian fabless semiconductor company creating spectral sensing solutions for high-volume mobile and consumer devices, using low-cost CMOS technologies. Hyperspectral sensing allows devices to “see” beyond what the naked eye can see. The sensor can tell you your heartbeat, the amount of oxygen in your blood or the hydration of your skin, while hyperspectral imagers can be used to perfectly match your skintone to cosmetics or to determine whether your food is fresh.
A recent March 2021 paper on the compact spectrometer systems market suggested that emerging chip-size spectrometers are going to fuel growth to more than 300 million chips per year in 2024.
According to their CEO, Vincent Mouret, this new round of financing will enable Spectricity to significantly accelerate the high-volume manufacturing, hire key talent and continue to expand their partnerships.
Leading global Series B investors included Atlantic Bridge, Capricorn Fusion China Fund, Shanghai Semiconductor Equipment and Material Fund (SSMEF) alongside the existing Belgian Series A investors imec.xpand and Xtrion.
NautaDutilh's deal team consisted of Nicolas de Crombrugghe, Florence Verhoestraete and Grace Nonneman.