About Spectral Engines
Spectral Engines is a Technology company based in Helsinki (Finland) founded in 2014, and was acquired by mut in May 2018. Miniaturized spectral sensors are manufactured for industrial measurement applications. Spectral Engines has raised $2.97 million across 6 funding rounds from investors including European Union, Finnvera and mut. Spectral Engines offers products and services including NIRONE Sensor X, NIRONE Sensor S, NIRONE Scanner, LabScanner, and Liquid Scanner. Its focus areas include Semiconductors, Sensors, Generic Sensor Developers and Imaging. Its legal entity is Spectral Engines GmbH.
Company details
Spectral Engines is a Startup from VTT Technical Research Centre of Finland. Spectral Engines manufacturers miniaturized spectral sensors. Typical applications for the devices are moisture measurements in pharmaceutical powders, food content (protein, fat, sugars), gas detection and analysis.
- Headquarters Helsinki, Finland
- Stage Acquired
- SectorsTechnology
- Website spectralengines.com
- Social LinkedIn X Facebook
- Acquired by mut (May 2018)
- Legal Name Spectral Engines Gmbh
- Total Equity Funding$2.97M (USD)
in 6 rounds
- Latest Funding Round$2.79M (USD), Grant
Oct 2017
- InvestorsEuropean Union
& 6 more
- Acquired bymut
(May 2018)
Products & Services of Spectral Engines
Spectral Engines offers a comprehensive portfolio of products and services, including NIRONE Sensor X, NIRONE Sensor S, NIRONE Scanner, LabScanner, and Liquid Scanner.
Portable device for accurate material analysis in field applications.
Robust sensor for non-destructive material identification.
Hand-held scanner for quick material verification.
Device for detailed material analysis in lab settings.
Scanner for identifying liquids in various contexts.
Funding Insights of Spectral Engines
Spectral Engines has successfully raised a total of $2.97M across 6 strategic funding rounds. The most recent funding activity was a Grant round of $2.79 million completed in October 2017. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $2.97M
- Total Rounds 6
- Last Round Grant — $2.79M
- First Round $1.21M
(Jun 2014)
- Investors Count 6
All 6 funding rounds of Spectral Engines with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct 2017 | $2.79M | Grant | – | – | |
| Sep 2017 | $2.79M | Grant | – | – | |
| Dec 2016 | $834,944 | Grant | – | – | |
| Jul 2016 | $1.76M | Seed | – | Finnvera, VTT Ventures | |
| Jan 2015 | $640,280 | Grant | – | – | |
| Jun 2014 | $1.21M | Seed | – | Inventure | – |
7 investors in total: 6 institutional and 1 angel.
Investors in Spectral Engines
Spectral Engines has secured backing from 7 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include European Union, Finnvera and mut.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Government agency and accelerator focusing on innovative startups and SMEs | eicfund.eu | Brussels, Belgium | ||
| vttventures.fi | ||||
Investments in early-stage tech startups are made by Inventure. | inventure.vc | Helsinki, Finland | ||
Government entites focused on freedom, democracy, equality and the rule of law, promoting peace and stability | 1958 | europa.eu | Brussels, Belgium | |
Loans, investments, and financial services are provided to businesses. | 1999 | finnvera.fi | Helsinki, Finland | |
TS Timo Syrjälä. | unknown_f9a598e1a91947968 | |||
Near-infrared hyperspectral sensors are developed for lab automation and spectroscopy. | 2007 | mut-group.com | Wedel, Germany |
Investor details for Spectral Engines
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
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People of Spectral Engines
4 people are tracked at Spectral Engines (4 in team).
| Name | Role | Group |
|---|---|---|
Bilawal Aziz | Senior Software Engineer | Team |
Julian Metzler | Software Architect | Team |
Maik Müller | Chairman Of The Board | Team |
Fuad Habash | Senior Hardware Engineer | Team |
Complete people profiles for Spectral Engines
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Timeline of Spectral Engines
4 dated milestones of Spectral Engines across 4 years, from founding to its latest funding, stage changes and deals.
- Founded Spectral Engines is founded.
- Funding First funding round of $1.2M.
- Funding Latest funding round, Grant, of $2.8M.
- Exit Acquired by mut.
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Frequently Asked Questions about Spectral Engines
Spectral Engines was founded in 2014.
Spectral Engines is headquartered in Helsinki, Finland.
Spectral Engines is a funded company, having raised a total of $2.97M across 6 funding rounds to date. The company's 1st funding round was a Seed of $1.21M, raised on Jun 2014.
Spectral Engines is a Startup from VTT Technical Research Centre of Finland. Spectral Engines manufacturers miniaturized spectral sensors. Typical applications for the devices are moisture measurements in pharmaceutical powders, food content (protein, fat, sugars), gas detection and analysis.
Spectral Engines offers NIRONE Sensor X, NIRONE Sensor S, NIRONE Scanner, LabScanner, and Liquid Scanner.
Spectral Engines has 7 investors. Key investors include European Union, Finnvera, mut, EIC Fund, and VTT Ventures.
Spectral Engines operates through Spectral Engines Gmbh.
Yes. Spectral Engines was acquired by mut in May 2018.