Coherix Announces Completion of $12 Million Investment and Creation of China Joint Venture
Ann Arbor, Michgan, September 10, 2015 – Coherix, Inc., a global leader in 3 Dimensional (3D) Machine Vision, today announced the completion of a $12 million investment. The investment will be used to accelerate product development and expand global marketing.
The new funding came from an electrical manufacturing company in northeast China. As part of the investment agreement, a China Joint venture has been launched to increase Coherix presence in China.
The company recently announced the launch of two new product lines, Predator3D™ and Robust3D™. Predator3D is used to monitor and control the dispensing of Structural Adhesives used in automotive and aircraft body structures and to monitor and control the sealant dispensing process in the manufacturing of automotive engine transmissions and related drivetrain products. This sealant material is referred to as Room Temperature Vulcanization (RTV).
The company’s second new product line is Robust3D, which is used for assembly verification in high speed manufacturing processes. Like Predator3D, Robust3D products are installed directly in the manufacturing process for 100% high speed error detection. (Depending on the manufacturer, high speed assembly verification may be called Error Proofing or Mistake proofing. )
The company’s new product lines are based on a patent-pending technology called “Shark” that was developed by Coherix during a four year development contract with Panasonic. It enables the company to produce the highest performing 3D machine vision technology at prices competitive with – or even lower than – legacy 2D machine vision technology.
“To date, Coherix has primarily focused on product development and establishing global presence through its wholly owned subsidiaries in Asia, and Europe as well as our Joint Venture in China. With this $12 million of additional growth capital the company will grow its global marketing capability to accelerate revenue growth,” said Dwight Carlson, Chairman/CEO. This is the third Innovative Manufacturing Technology (IMT) Company the Coherix management team has founded and grown in the Ann Arbor area.
About Coherix, Inc.
Coherix, Inc. is the leading developer and provider of 3D machine vision technology designed for high speed manufacturing applications. The company’s solutions are designed for assembly verification and error-proofing in the automotive, semiconductor, and electronics industries. Coherix is committed to producing the highest performing 3D machine vision technology at prices competitive with or lower than temperamental 2D machine vision technology. Founded in October 2003 and headquartered in Ann Arbor, Michigan, the company has offices in manufacturing hubs around the world, including the United States, China, Germany, Sweden, Singapore and Japan.