Phase Vision, A Loughborough, UK-based industrial inspection instrumentation company, has closed a £1.5m funding.
The round was anchored by a £643k investment by London Business Angels, including a £100k investment by the LBA EIS roundtable syndicate fund.
The company intends to use the funds to hire more staff and boost its U.K and export sales.
Led by CEO Ralph Weir, Phase Vision has developed and sells a range of high precision measurement devices to manufacturing companies. Its instruments are designed to enable the aerospace, automotive and nuclear industries to manufacture and test systems more quickly and cheaply with reduced environmental impact.
In conjunction with the funding, Nathan Hill, lead LBA investor, has joined Phase Vision’s Board as a non-executive Director.