Cognex to Fund Avalon Imaging, Other Vision Ventures

Machine vision manufacturer Cognex Corp. has formed a program under which the company will make strategic equity investments in companies developing unique machine vision products and technologies. Under the Cognex Vision Ventures program, Cognex will collaborate with such firms on both technology and market development, and may later consider these companies as candidates for acquisition.

Cognex will invest primarily in companies developing special-purpose vision systems for industrial and commercial applications, which will use Cognex vision hardware and core software as the platform for their machine vision solutions. As a secondary goal, the company will also seek to invest in ventures developing complementary machine-vision related products such as image sensors, specialized vision software, or proprietary optics and illumination technologies.

The first Cognex Vision Ventures partner is Avalon Imaging, a leading supplier of special-purpose vision systems for the plastic injection molding industry. The partnership includes an OEM agreement in which Cognex provides the core vision technology for Avalon Imaging's next-generation systems, and a $1 million equity investment by Cognex which will be used to help to fund Avalon's product development efforts and to expand their marketing and support channels.