PhovIR secures £4 million to bring breakthrough optical sensor technology to market

PhovIR, a spinout from the University of Manchester formed with the support of the University’s Innovation Factory, has secured £4 million in seed funding to accelerate the development and commercialisation of its breakthrough optical sensor technology.

Northern Gritstone, the groundbreaking life sciences and deeptech investment firm chaired by Lord Jim O’Neill, has announced the investment and is co-leading the seed round alongside deeptech specialist SCVC.

Founded by Dr Tim Echtermeyer and based at the Graphene Engineering Innovation Centre, PhovIR has developed a unique Near Infra-Red (NIR) sensor capable of identifying the ‘optical fingerprint’ of solids, liquids and gases in a portable device. This technology has far-reaching potential, from detecting drink spiking and other contaminants to enhancing industrial safety, monitoring pollution and supporting agricultural practices.

Unlike existing NIR sensor devices, which tend to be bulky, costly and difficult to integrate into consumer products, PhovIR’s innovation uses silicon chip manufacturing and MEMS (Micro-Electro-Mechanical Systems) technology. This allows the device to be produced at scale in a form that is small, light and cost-effective, with the potential to be incorporated into everyday devices such as smartphones and smartwatches.

The funding will enable PhovIR to bring its first commercial product to market, expand its team and continue to deliver on its vision of making the invisible visible to improve human and planetary health.

Active since May 2022, Northern Gritstone has already made 37 investments in early-stage businesses in the North of England, expanded its investment team and built NG Innovation Services, its venture building ‘toolkit’ offering, inter alia: talent management; growth advice; business services; and the accelerator program, NG Studios. PhovIR recently completed Northern Gritstone’s pre-seed program, NG Studios, which has supported PhovIR to refine its commercial strategy as a customer-led organisation ready for growth and successful fundraising.

Professor Duncan Ivison, President and Vice-Chancellor at The University of Manchester, said: “PhovIR is a fantastic example of the kind of innovation that defines The University of Manchester – world-class research brought to life through collaboration, with the potential to change lives. It is exciting to see this deeptech breakthrough moving towards real-world application, supported by the expertise of our Innovation Factory and partners like Northern Gritstone. My congratulations to the team behind PhovIR, this is exactly the kind of impact we want to see more of across our University and our region.”

Dr Catherine Headley, CEO of the University of Manchester Innovation Factory, said: “PhovIR exemplifies the kind of innovation the Innovation Factory exists to support. By taking groundbreaking research and helping transform it into a viable spinout, we are enabling new technologies with the potential to change lives. PhovIR’s journey shows how world-class ideas developed at Manchester can be nurtured into businesses with global reach, and we are proud to have helped the team take these vital steps.”

PhovIR is chaired by Dr Steve Turley, who has over 25 years’ experience dedicated to scaling complex technologies into high growth businesses, including as Chair of Effect Photonics and ex-CEO of Perpetuum.

With the funding, PhovIR plans to bring its first commercial product to market, grow its team, and continue delivering on its vision for making the invisible visible to improve human and planetary health.

PhovIR recently completed Northern Gritstone’s pre-seed program, NG Studios, which has supported PhovIR to refine its commercial strategy as a customer-led organisation ready for growth and successful fundraising.

Active since May 2022, Northern Gritstone has already made 37 investments in early-stage businesses in the North of England, expanded its investment team and built NG Innovation Services, its venture building ‘toolkit’ offering, inter alia: talent management; growth advice; business services; and the accelerator program, NG Studios.

Duncan Johnson, CEO of Northern Gritstone, said: “PhovIR is a Northern Gritstone NG Studios graduate. The University of Manchester is home to innovation in materials science including graphene. Northern Gritstone is delighted to back Dr Tim Echtermeyer and Dr Steve Turley – graduates of our NG Studios venture building program – knowing that PhovIR’s technology has the potential to create a global company.”

Dr Tim Echtermeyer, CTO of PhovIR, said: “I am exhilarated to enter the next part of PhovIR’s journey and turn our vision into reality.  I am grateful to the many people contributing and making this happen; particularly Steve, and William Wren and Minh Vu from the Engineering team, who have worked relentlessly.”

Dr Steve Turley, Chair of PhovIR said: “I am very excited to be working with PhovIR not only because of the immense potential that the technology has but also the great team in Manchester led by Tim. It’s an opportunity to demonstrate that the UK can take excellent innovative technology and turn it into a global success story.”

John Williams, General Partner of SCVC said: “PhovIR represents the future of deep tech: advanced hardware, unlocked by AI. It’s the kind of multi-tech breakthrough that creates entirely new categories—and the kind SCVC is here to back.”