Bullnet Capital, an independent Spanish venture capital firm, has led a new investment in Deep Detection, a company dedicated to the development of X-Ray inspection technology. The company was founded in 2020 by IFAE researchers Prof. Mokhtar Chmeissani and Dr. José Gabriel Macías (CTO), and a business team formed by David Ciudad and Colin Burnham.
Deep Detection’s technology is based on a specific read-out chip and a photon counting algorithm that provides the ability to classify materials and detect low density foreign bodies in food, an actual challenge that the food industry is trying to solve because of the limited performance of the current inspection systems. Food contamination incidents are highly disruptive on many levels and additionally, recalls which have been growing in frequency, typically cost a manufacturer 10 M€.
Deep Detection technology could be also applied to Non-Destructive Tests (NDT) to ensure highly reliable product quality control, as well as to medical imaging, in particular Computed Tomography (CT).
With this new technology and bring the products to market.
David Ciudad and Colin Burnham, top managers of the project, explain: "We want to make it as easy as possible for our clients to incorporate the photon counting breakthrough in X-ray inspection into their systems. Our products are designed to make the benefits of 'X-ray easy to incorporate into inspection systems, so that industry can maintain quality and safety across high volume production in both staples and advanced materials."
Deep Detection is Bullnet's seventh investment with its new fund after Katoid, Quside, Leapwave, Enthec, MLCode, and AGPhotonics.
According to Miguel del Cañizo and Javier Ulecia, founding partners of Bullnet Capital, "Deep Detection is a company completely in line with our investment criteria: a team with proven experience, patent-protected products, and potential to disrupt the way things have been traditionally done."
About Bullnet Capital
Bullnet Capital is an independent Spanish venture capital firm focused on deep tech companies (electronics, semiconductors, photonics). Established in 2002, it manages a total of €140 million through various investment vehicles. To date, Bullnet Capital has invested in twenty eight early stage Spanish companies and maintains its investment philosophy of adding value and contributing to the day to day operations of portfolio companies. Website: www.bullnetcapital.com Twitter: @bullnetcapital
About Depp Detection
Deep Detection is a spin off from the Institute of High Energy Physics (IFAE) and is developing a new generation of X-ray cameras that go beyond the detection limits of the conventional technology. Website: www.deepdetection.tech
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