| Project Detail |
ImpactVision is a machine learning company, applying advanced imaging technology to food supply chains in order to improve food quality, generate consistent products and reduce waste. Our software provides insights about the quality of foods and is aimed at food processors, manufacturers, distributors and retailers. For example, our system is able to determine the freshness of fish, the ripeness of avocados or the presence of foreign objects rapidly, non-invasively and at production grade speeds.
Hyperspectral imaging technology captures information our eyes cannot, in other parts of the electromagnetic spectrum. Our goal is to provide objective, real-time food quality data to the 30,000+ food processing facilities across the USA and improve efficiency of the global food supply chain. Currently, a third of all food produced is wasted. To illustrate the environmental impact at scale, managing food waste sustainably could reduce greenhouse gas emissions by over 500 million tonnes - the equivalent of taking all the cars off the road in the European Union. By digitizing food quality control, we improve yields and prevent waste, whilst increasing food companies’ revenues, which is particularly prescient considering the industry has razor thin profit margins.
ImpactVision combines a hyperspectral sensor installed above a conveyor belt with software that analyzes images and provides real time insights about quality.
By pursuing the present feasibility study, the management team aims to improve its understanding of international market conditions and the associated risks that need to be considered as the company develops a deeper business plan for rolling out, and scaling up ImpactVision as a marketable innovative solution. SME Instrument Phase-1 and Phase-2 will be extremely beneficial in helping the company to accelerate development and market penetration of the solution in target segments, boosting the company’s growth to 94 employees and $109M revenues by 2024. |
