Specim, Spectral Imaging Ltd.
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Specim, Spectral Imaging Ltd. - overview
Established
1995
Location
Oulu, -, Finland
Primary Industry
Industrial Machinery
About
Specim, Spectral Imaging Ltd. specializes in hyperspectral imaging technology, providing advanced solutions for various industries such as manufacturing, research, and environmental monitoring. Founded in 1995 in Oulu, Finland, Specim, Spectral Imaging Ltd. focuses on hyperspectral imaging technology.
The company has undergone no significant pivots and operates independently, with CEO Tapio Kallonen at the helm. Specim has raised a total of EUR 3. 5 million, with the latest funding round being a GROWTH round in August 2017, led by Bocap. This funding allowed Specim to expand its product offerings and global reach.
Specim offers a range of hyperspectral imaging products, including the SpecimONE hyperspectral cameras, spectrographs, airborne systems, and specialized imaging software. These products are designed for capturing reflectance across various wavelengths, making them applicable in sectors like quality control, environmental monitoring, and archaeological research, serving clients from OEMs to research institutions across Europe, North America, and Asia. In the most recent fiscal year 2024, Specim generated revenue of EUR 19,332,649. 70 with an EBITDA of EUR 2,262,340.
40. Revenue is primarily derived from direct sales of hyperspectral imaging systems and software, along with service agreements for ongoing maintenance and recalibration. Specim plans to utilize the recent EUR 3. 5 million investment from Bocap to enhance product development, aiming to introduce new hyperspectral imaging systems and software by 2025.
The company is also targeting expansion into Asian markets, focusing on Japan and South Korea, to capitalize on growing demand for advanced imaging solutions. The funding will support these initiatives and help strengthen their market position.
Primary Industry
Industrial Machinery
Sub Industries
Industrial Machinery
Website
www.specim.fi
Verticals
Manufacturing
Company Stage
Acquired
Total Amount Raised
Subscriber access only
Specim, Spectral Imaging Ltd. - financials
| Fiscal Year Ended | Dec 31, 2009 | Dec 31, 2010 | Dec 31, 2011 | Dec 31, 2012 | Dec 31, 2013 | Dec 31, 2014 | Dec 31, 2015 | Dec 31, 2016 | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Mar 31, 2022 | Mar 31, 2023 | Mar 31, 2024 | Mar 31, 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 4,181,889.5 | 4,293,958.8 | 4,659,580 | 5,495,771.4 | 5,696,084.6 | 6,650,679.9 | 9,030,191.8 | 8,466,248.1 | 12,519,639.1 | 12,063,124.9 | 13,394,136 | 13,048,063.9 | - | 21,215,420.6 | - | - | - |
| % Revenue Growth (YoY) | - | 2.7% | 8.5% | 17.9% | 3.6% | 16.8% | 35.8% | (6.2%) | 47.9% | (3.6%) | 11.0% | (2.6%) | - | - | - | - | - |
| EBITDA (USD) | 184,806.6 | 230,176 | 299,284.5 | 121,557.2 | 491,815.5 | 764,871.8 | 846,722.1 | 376,309.5 | 2,533,550.6 | 1,612,960.2 | 2,197,248.8 | 1,850,147.9 | - | 4,587,756.5 | - | - | - |
| Operating Income (USD) | 156,223.3 | 206,996 | 284,799.7 | 112,507.3 | 415,811.9 | 672,076.5 | 700,750.7 | 168,391.3 | 2,126,132.7 | 68,075.4 | 561,667.1 | 150,666.3 | - | 2,580,430.6 | - | - | - |
| Operating Margin | 3.7% | 4.8% | 6.1% | 2.0% | 7.3% | 10.1% | 7.8% | 2.0% | 17.0% | 0.6% | 4.2% | 1.2% | - | 12.2% | - | - | - |
| % EBITDA Margin | 4.4% | 5.4% | 6.4% | 2.2% | 8.6% | 11.5% | 9.4% | 4.4% | 20.2% | 13.4% | 16.4% | 14.2% | - | 21.6% | - | - | - |
| NET Income (USD) | 100,897 | 141,189.8 | 191,717.7 | 77,708.4 | 296,496.3 | 497,175.9 | 515,577 | 62,375.6 | 1,590,735.5 | (46,234.4) | 352,243.7 | (30,504.1) | - | 1,986,147.6 | - | - | - |
| % Net Margin | 2.4% | 3.3% | 4.1% | 1.4% | 5.2% | 7.5% | 5.7% | 0.7% | 12.7% | (0.4%) | 2.6% | (0.2%) | - | 9.4% | - | - | - |
Specim, Spectral Imaging Ltd. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Trade Sale | Completed | Specim, Spectral Imaging Ltd. | - | ||||||||
| Growth | Completed | Specim, Spectral Imaging Ltd. | - |
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