Optics11 raises €5 million for commercial expansion of industrial sensor business
- New investment will enable market expansion of industry-best optical sensor technology for infrastructure and asset monitoring in challenging environments
- Company names ex-Siemens executive, Juha Van Riet, new CEO
AMSTERDAM, Oct. 6, 2022 /PRNewswire/ -- Optics11, the maker of game-changing sensor technology for critical environments, today announced a new venture round of €5 million led by new investor FORWARD.one and returning investor Value Creation Capital. In connection with the raise, Juha Van Riet will step into the CEO role to grow the industrial sensor company's global commercial operations and expand its product and solution offerings.
Optics11 helps make the public safer through its line of fiber optics-based sensors, optimized to perform in extreme conditions where electrical sensors typically fail, including deep sea, high-voltage, corrosive, radioactive, and very hot or cold environments. These sensors are utilized by government and commercial organizations to monitor subsea activity, electric grids, fuel plants, aircraft, civil infrastructure, and more.
"Industrial hardware enables innovation across every sector, and the unique capabilities of Optics11's technology will underpin new leaps forward," said Robin van Boxsel, a partner at FORWARD.one. "We're proud to add Optics 11 to our portfolio, and are confident that Juha's leadership team will continue to grow the product and commercial possibilities across global markets."
"State of the art fiber optic technologies from Optics11 help us understand critical infrastructure better. Its products and solutions are groundbreaking in many applications and very helpful in making the world a safer, cleaner and healthier place," said Jos Bourgonje, managing partner of Value Creation Capital.
Van Riet joined Optics11 as Managing Director in April with over 15 years' management experience at energy companies including Siemens, Woodward and Stork (a Fluor company), and has served as a Board Member with the Dutch Gas Turbine Association. He takes the reins from Niek Rijnveld, who will serve as CEO of Optics11 Life, Optics11's sibling life sciences unit.
"I strongly believe in the scale-up potential of Optics11 Industrial Sensing technology. Our solutions fundamentally increase accuracy and reproducibility of critical measurements; we remove blind spots and add previously unmeasurable data to our customers' asset management systems. This is highly relevant for today's energy, infrastructure and security market needs," said Van Riet.
About Optics11
Optics11 is the maker of game-changing sensing solutions for industrial and government infrastructure safety. Through its unmatched fiber-optic technology platform, Optics 11 has marketed a series of tools uniquely suited for high-stress environments, like OptimAE – the world's first fiber optic acoustic emissions sensing system, deployed to monitor electric grid conditions, oil and gas plant integrity, and the health of other critical structures.
Optics11 was founded as a spin-off from the Vrije Universiteit Amsterdam.
To learn more about how Optics11 is meeting the high-stress sensor needs for today's infrastructure and beyond, visit optics11.com.
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SOURCE Optics11
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