Silveray
Overview
Silveray is a technology company specializing in the development of innovative direct conversion detectors for X-ray imaging, catering to healthcare, industrial, and security applications. Founded in 2018 by Professor Ravi Silva from the University of Surrey, the company is headquartered in Stockport, United Kingdom. Capitalizing on its cutting-edge nanoparticle-based technology, Silveray has raised approximately $2.87 million from investors such as Innovate UK and Northern Gritstone.
Recent Developments
- November 2024: Silveray secured €4.2 million in a seed extension round led by Northern Gritstone. The funding will accelerate the development of Silveray’s first Digital X-ray Film (DXF) product, aimed for an industrial launch in 2025. The technology promises to revolutionize industrial radiography and expand into medical applications by digitizing radiographic film processes.
- August 2024: The company discussed its advancements in digital radiography at the World Conference on Non-Destructive Testing in Korea, highlighting the potential of its flexible digital X-ray detectors for aerospace applications.
- June 2024: Silveray’s team presented at the ICSM conference in Dresden, sharing their research progress on synthetic electronic materials for x-ray detectors.
- 2023: A significant £4 million investment was led by Northern Gritstone, along with other investors such as Hamamatsu Ventures and Deeptech Labs. This support is crucial for Silveray’s journey toward digitizing and modernizing X-ray imaging processes.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2018 |
| Headquarters | Stockport, United Kingdom |
| Founders | Professor Ravi Silva |
| Revenue | Not disclosed |
| Profits | Not disclosed |
| Key Investors | Northern Gritstone, ACF Investors, Cambridge Angels |
| Industry | Medical Devices & Equipment |
| Number of Employees | 14 |
Early History
Silveray was spun out from the Advanced Technology Institute at the University of Surrey in 2018. Professor Ravi Silva initially established the company to explore and validate innovative X-ray detection technology. The foundational research was supported through pre-seed funding in 2019, which focused on developing the core direct conversion technology using nanoparticle-based materials. This innovation was aimed at transforming the traditional methods used in x-ray image capture into a more efficient, high-resolution, and cost-effective solution.
Company Profile and Achievements
Silveray has pioneered in developing nanoparticle-based direct conversion materials for X-ray detectors that offer higher imaging performance and efficiency. Their technology transforms conventional X-ray processes by integrating semiconductor ink directly onto pixel backplanes, making their detectors both flexible and cost-effective. Some of the company’s key achievements include:
- Developing a proprietary DXF technology that eliminates the need for traditional radiographic film, promising substantial reductions in time and cost.
- Establishing collaborations with leading academic institutions like the University of Manchester to enhance technology development.
- Successfully raising significant venture capital to further their disruptive technology and prepare for impending market entry.
Current Operations and Market Position
Currently, Silveray is cementing its position in the X-ray imaging market by focusing on product development and strategic partnerships. The company plans to launch its first commercial product in 2025, particularly targeting the industrial sector for radiographic film replacement. Silveray is well-positioned to potentially disrupt the traditional X-ray market with its flexible, high-performance detectors that promise both cost-effectiveness and improved functionality. Their strategic relocation to Greater Manchester has facilitated access to local talent and advanced research resources.
Conclusion
Silveray stands as a promising start-up in the medical imaging and industrial radiography markets. By developing innovative X-ray imaging solutions, the company is poised to revolutionize how X-ray systems operate across industries. With continued support from strategic investors and an upcoming product launch, Silveray is on track to reshape the X-ray imaging landscape globally, offering superior digital solutions tailor-made for diverse applications.