HyperSpectral, an Alexandria, VA-based AI-powered spectral intelligence company, emerged from stealth mode and raised $8.5 million in Series A funding.
Investors
The round was co-led by RRE Ventures and Kibo Ventures, with additional participation from Correlation Ventures and GC&H Investments.
RRE Ventures is a venture capital firm investing in early-stage, category-defining startups across all sectors. They are active strategic, operational, and financial partners with the companies they finance. Founded in 1994, the firm invests across the United States and in select overseas geographies.
Kibo Ventures is a Venture Capital firm, established in 2012 with offices in Madrid and Barcelona, and with the mission of empowering innovative European tech entrepreneurs to tackle significant challenges and achieve growth by building global companies.
HyperSpectral Use of Funds
The company will use the funds to ramp up development of the technology, hire key talent, and create wider AI datasets through lab partnerships and testing.
About HyperSpectral
HyperSpectral specializes in AI-powered spectral intelligence with hardware-agnostic solutions for particle detection. Their technology combines spectroscopy and artificial intelligence to analyze the unique absorption and emission patterns of light from various sources. HyperSpectral is actively working to provide agricultural and medical technology companies with real-time intelligence on product safety and protect people from invisible threats.
Funding Details
Company: HyperSpectral Corp.
Raised: $8.5M
Round: Series A
Funding Month: May 2024
Lead Investors: RRE Ventures, Kibo Ventures
Additional Investors: Correlation Ventures, GC&H Investments
Company Website: https://www.hyperspectral.ai/
Software Category: Spectral Intelligence
Source: https://www.prnewswire.com/news-releases/hyperspectral-announces-8-5m-series-a-funding-to-accelerate-deployment-of-spectral-artificial-intelligence-software-302164169.html