Parkwalk and IQ inject $5.3m into Spectral Edge

Kenny Wastell
11 April 2018

Tweet
Facebook
LinkedIn
Google plus
Send to

Parkwalk Advisors and IQ Capital have invested a further $5.3m in UK-based image processing business Spectral Edge.

The fresh capital will enable Spectral Edge to expand its research and development team, and invest in product development.

The company has been building up its senior management team in recent months. It appointed former SwiftKey chief commercial officer Rhodri Thomas as CEO in February last year, and Ilya Romanenko – formerly the director of the research and development team at ARM Holdings – as chief technology officer in October.

Previous funding
Spectral Edge first received backing from institutional fund managers in July 2014, when Iceni Seedcorn Fund led a £300,000 seed funding round for the company. Midven also invested in the round via its Rainbow Seed Fund.

IQ and Parkwalk then led a £1.5m round of start-up funding for the business in March 2016. Cambridge Angels, Wren Capital, Cambridge Capital Group and Martlet also participated in the round alongside Iceni and Rainbow Seed Fund.

Company
Headquartered in Cambridge and founded in 2014 as a spinout from the University of East Anglia, Spectral Edge is an image processing, machine learning and embedded software developer. Its products are used for digital photography on smartphones, webcams and security applications, as well as in the provision of content for TV and video streaming services.

People
Parkwalk Advisors – Alastair Kilgour (chief investment officer).
Spectral Edge – Rhodri Thomas (CEO).
IQ Capital – Max Bautin (managing partner).