French startup TiHive, a vision systems provider for industrial IoT, has received €8.6 million from the EIC Accelerator program, a European Innovation Council scheme within the framework of Horizon 2020. An EU representative will join the startup’s board of directors.
Manufacturers use TiHive’s technology for real-time quality checks that ensure product compliance and reduce raw material waste, benefiting consumers and the environment. The quality control product is a compact imaging system based on terahertz light, combined with AI algorithms. The startup, now in its third year, initially struggled to pick a market as its technology could be put to good use across a variety of industries, from luxury goods to pharmaceuticals. While the company says it’s still exploring opportunities in these fields, it’s now strategically focused on the hygiene and personal care markets. “Households and families throughout the world will benefit from higher quality personal hygiene products and, by using these products, reduce their impact on the environment,” says Hani Sherry, CEO and co-founder. The Grenoble-based company will use the funds (€6.3 million in equity and €2.3 million in grants) to bring its imaging system to an industrial scale and expand through Europe and the US. TiHive also expects to finalise construction of its industry-grade testing facilities and lab (which began a few months ago) by 2021 and hire ten additional staff, bringing the headcount to 25.
Photo: TiHive team