INSPHERE-ROBOT
Measurement solutions company INSPHERE has received £1.5 million in investment from the Foresight Williams Technology EIS Fund.
The Foresight Williams Technology EIS Fund is a collaborative effort between Williams Advanced Engineering and Foresight Group to support SMEs throughout the UK. INSPEHRE is set to use the funds provided by that venture to further develop its BASELINE and HYPERSCAN metrology systems and commercialise new products.
The company’s metrology products operate in real-time to measure accuracy and self-correct if needed, the resulting closed-loop system helping to avoid downtime and increase productivity.
These metrology products have been delivered to the likes of Airbus, Rolls-Royce and Jaguar Land Rover, but now the company is looking to expand its product offering and the service it provides to demanding industries. In doing so, INSPHERE will harness the support of Williams Advanced Engineering and Foresight to develop the core intellectual property behind new hardware and software systems.
“The technical expertise offered through Williams Advanced Engineering combined with the financial and commercial input from Foresight makes this the perfect backing for our manufacturing technology business,” commented Ben Adeline, CEO at INSPHERE. “Our business is well-positioned to exploit the exponential growth in demand for Industry 4.0, ‘smart factory’ solutions sought by the advanced manufacturing sector. Our technologies will enable manufacturing systems, improving their capability and flexibility resulting in significant step changes to productivity.”
“INSPHERE is showing itself to be a pioneer, delivering much-needed valuable improvements in aerospace, automotive and defence industry production processes by using technology to offer in-process metrology,” offered Andrew Bloxam, Senior Investment Manager at Foresight. “We believe that the transition to Industry 4.0 is going to have a transformative impact on industrial manufacturing over the next decade. We are excited to be working the INSPHERE team to drive that transformation and build a big company in the process.”
Matthew Burke, Head of Technology Ventures at Williams Advanced Engineering added, “The team at Williams Advanced Engineering is looking forward to working with INSPHERE to apply its expertise in product development and production from work in automotive, aerospace, defence, and other sectors to support the commercialisation of INPHERE’s pioneering automated manufacturing metrology technologies.”
