Editor’s note: The annual technology conference put on each year by the Council for Entrepreneurial Development included presentations from 27 companies earlier this week in Raleigh. WRAL Local Tech Wire is profiling many of the companies This is another in the series. Profiles of other demonstrating companies will continue to be featured on LTW in coming days.
RALEIGH, N.C. — These days, meeting the “specs” requires more than a magnifying glass and other means of manual measurement.
As manufacturing increases its reliance on robotics and incorporates more precision down to the nanometer level, companies need assistance in assuring quality control while also controlling costs and expediting product development as well as delivery.
Sensory Analytics, a startup based in Greensboro, is attempting to meet those needs with proprietary technology that includes color and thickness measurement through the first devices developed that do not require contact with the materials being measured. They are portable and including cutting-edge optical measurement capabilities.
Attendees at the CED’s Tech 2006 conference on Wednesday were impressed enough to select Sensory Analytics as the “People’s Choice” winner.
Led by veteran entrepreneurs Greg Frisby (founder of Frisby Technologies) and Doug Price and driven by the technical expertise of Jody Price, Sensory Analytics is targeting aerospace, pharmaceutical automotive and other clients. Price founded two optical measurement firms in Morganton, N.C. that were combined to help form the existing firm.
“Sensory uses its patented technologies, software and proprietary algorithms to automate and streamline the manufacturing and quality control process of market leaders in medical device, automotive, aerospace and consumer packaging markets,” Frisby told WRAL Local Tech Wire in a Q&A. “These breakthrough systems provide measurement capabilities that have not previously been made available. Branded Sensory solutions can be used as portable or in-line measurement tools for manufacturers, processors or field personnel.”
Sensory Analytics believes that its technology can save “manufacturers significant labor hours, scrap and rework expenses and the related costs of quality”.
The Q&A with Sensory Analytics:
What makes your technology / product / application unique?
Sensory is the first company to introduce a non-contact coating and anodize measurement tool that is both portable and can be readily integrated onto robots and other automation tools. Sensory systems integrate nanometric precision along with color and thickness measurement technologies within ruggedized electronic systems.
Companies are more than technology. How is your management team trying to mold the company into a winning venture beyond having a technical advantage or needed service?
Sensory’s experienced management team blends public and private corporate management experience with entrepreneurial passion in order to accelerate new product development and sales growth cycles. By orienting all development efforts towards market needs, the pace of new commercial launches has been exceptional.
What was the original inspiration (or invention) that led to the launch of your company?
The company was built upon the initial vision of CTO Jody Price combined with the market and technology expertise of CEO Greg Frisby and Chairman Doug Young.
What markets/needs are you seeking to address?
The company is an emerging leader in the $4 billion dollar quality market, with significant impacts across a number of industry verticals including automotive, medical devices, consumer packaging and aerospace.
What have been the primary challenges you have faced in launching and then growing your company?
Applying application focus to our broad technology base and accelerating the product standardization cycle were the largest initial challenges to early stage growth of sensory.
Was entrepreneurial spirit a real driver for your company’s founders and executive team to bring your firm to this point? Please explain.
Sensory was formed by the combination of three successful entrepreneurs and has been driven by the collective entrepreneurial passion and seasoned experience of the founders.
Do you have patents or patents pending?
Sensory has one very broad issued patent, one large patent pending and numerous other filed patent applications respecting the application, design and functionality of the company’s technologies. Sensory also has invested in branding development and trademark filings as a means to add additional shareholder value.
How is your company financed? Do you have plans to seek additional investors or venture capital? Do you have another exit strategy?
To date, Sensory has secured over $1.5 million in regional angel capital and is seeking a final $500,000 piece of VC or angel equity to complete its technical expansion and accelerate its sales growth path. Based upon the acquisitive nature of its core markets, an exit or multiple exits to strategic buyers are anticipated by sensory management.
For more facts about Sensory Analytics, see: localtechwire.com/article.cfm?u=15258
Previous Tech 2006 profiles:
Fortune Interactive: localtechwire.com/article.cfm?u=15202
INI Power Systems: localtechwire.com/article.cfm?u=15192
6th Sense Analytics: localtechwire.com/article.cfm?u=15179