DURHAM — SWIR Vision Systems Inc., a high definition camera manufacturer based out of Durham, has raised $1 million, according to a filing with the Securities and Exchange Commission.
The money was raised through a combination of debt and equity, according to the filing.
[The photo with this post illustrates how SWIR sees details inside an overcast sky.]
SWIR Vision Systems was formally launched this week as a new spin-out venture company from RTI International, aimed to commercialize infrared camera technology developed at RTI for applications in the industrial machine vision, security systems, agricultural, automotive and other global imaging markets.
SWIR stands for short-wave infrared.
“Commercializing our most promising discoveries is an important aspect of our mission to improve the human condition by turning knowledge into practice,” said RTI President and Chief Executive Officer Wayne Holden. “RTI has a deep history of innovations and establishing new businesses like SWIR Vision Systems, that leverage RTI’s technology, is a great way to extend our impact.”
The company has launched a line of high-definition cameras known as Acuros, which deliver visible-to-SWIR band, high resolution images, at superior cost points compared to InGaAs SWIR cameras. The cameras are intended for use in applications including industrial machine vision, security and agricultural imaging,.
George Wildeman, a photonics industry executive and entrepreneur with more than 25 years of technology commercialization experience, has been named chief executive officer of SWIR Vision Systems.
Ethan Klem will transition from RTI to become SWIR´s chief technology officer. Klem led the innovative research and development program for the sensors during his tenure at RTI and will continue to spearhead the technical program with the new company.
“Acuros cameras will dramatically expand the imaging toolkit for machine vision integrators, disrupting the cost and performance curve for vision systems design,” Wildeman said. “We look forward to witnessing the impact of the technology as it is adopted in our target applications and markets.”
More information about the company can be found online.
Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.
This story is from the North Carolina Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism