Power Vision Limited, a Crewe, UK-based start up developer of specialist equipment that applies anti-reflective (AR) coatings to spectacles lenses, has received a £500,000 investment from The North West Fund for Venture Capital, managed by EV.
The company intends to use the funds to grow sales worldwide and expand its operations.
Founded in 2010, Power Vision was formed in order to commercialize specialist equipment that enables optical retailers offering “1 hour” provision of spectacles to perform antireflective coating in store in less than 15 minutes per side. The company has already secured a licence agreement with Vision Ease Lenses Inc. in the US to sell its equipment in North America.
The company’s management team includes CEO Tony Williams, technical manager Bob Waugh, finance director Tony Abramson and non-executive director Mike Walls.
Dean Butler, the founder of US-based Lenscrafter and Vision Express, has joined Power Vision’s Board as Chairman.