IONA manufacturer INSPHERE secures funding to complete its growth plans
“Getting the funding is a significant milestone in our story. It endorses IONA’s place in the market and enables us to push forward with our growth plans.”
INSPHERE secures £3.7 million in funding to help the company achieve its growth plans. The IONA manufacturers are hoping to increase its profile in the aerospace, automotive, and composites sectors within the German and US markets.
Key information:
- INSPHERE secures £3.7 million in funding.
- The IONA manufacturers are hoping to expand into the US and German markets.
- Additionally, the funding will help INSPHERE roll out IONA into commercial applications.
IONA is a scalable network of sensors delivering metrology-grade positional data to automated manufacturing processes. This data is then used to improve the accuracy and performance of industrial robots, including identifying and correcting errors in the production line.
“IONA unlocks the true potential of industrial robots, flexible automation, and virtual commissioning, underpinning the trend toward advancing uses of these advanced manufacturing processes,” said Ben Adeline, CEO of INSPHERE. “Getting the funding is a significant milestone in our story. It endorses IONA’s place in the market and enables us to push forward with our growth plans.”
According to developers, IONA can help users make sub-millimetre corrections to robot positions and alignment with parts before mistakes are made. IONA claims to provide a right-first-time approach, while also saving time, money and energy as well as reducing waste.
“INSPHERE has made excellent progress towards developing the next generation IONA robot monitoring and control system for ‘smart’ factories,” said Stephan Gueorguiev, Investment Director at Foresight (an existing investor). “With this investment, we’re pleased to be able to support the rollout of IONA into commercial applications.”
While the Chief Operations Officer of INSPHERE, Craig Davey said, “The funding will accelerate the technical development of IONA alongside the building of our commercial side to the business. We are seeing great results from projects AFFIRM and ACCUFAS and this funding will support our efforts to engage with more end-users across Europe and the US.”