Foresight Williams Technology EIS Fund Invests £1.5 million into Industry 4.0 Metrology Experts INSPHERE
Foresight Group LLP has announced a £1.5 million investment from the Foresight Williams Technology EIS Fund into INSPHERE Ltd., experts in measurement and automation using innovative value-added metrology.
INSPHERE was founded in 2013 by CEO Ben Adeline and CTO Oliver Martin, originally providing metrology consultancy, sub-contract management and training to manufacturing businesses including Rolls-Royce, Airbus and Jaguar Land Rover.
Industries such as aerospace, automotive and defence all employ highly automated manufacturing processes which rely on production lines of robots performing precise and repeatable actions.
Measurement technologies have traditionally been used to verify parts at the end of the production line. Faults or defective parts found at this stage are either scrapped or require expensive re-work. These faults can be caused when a robot is not set up correctly or drifts even slightly out of position. It can be problematic and laborious to determine the root causes in the production line resulting in costly downtime or poor-quality parts if problems are unresolved.
The Fund’s investment will be used to develop and accelerate the commercialisation of INSPHERE’s new products, build sales and scale the business.
RW Blears, with Partner Adam Lawrence and Associate Chris Spencer, acted as legal adviser to the Foresight Williams Technology EIS Fund.