Company Welcomes Dr. Chuck Mattera, former Chair and CEO of Coherent Corp as new Chairman
ALEXANDRIA, VA (OCTOBER 7, 2025) – HyperSpectral, the world’s first AI-powered spectral intelligence company, today announced the close of a $7M Series A-2 capital raise. The round will fuel accelerated development, expand partnerships, and position the company for a Series B round in 2026.
The financing was co-led by RRE Ventures and Kibo Ventures, with continued support from existing investors. New investors include Avalanche Thinking, whose Chairman and CEO, Dr. Vincent D. (Chuck) Mattera, former Chair and CEO of Coherent Corp (NYSE: COHR), who joins the HyperSpectral Board as Chairman. His appointment expands the company’s leadership network in photonics and industrial manufacturing, and his governance experience will reinforce the company’s readiness to scale ahead of its next financing round.
Since emerging from stealth mode in 2024, HyperSpectral has built significant momentum. In the past 12 months its SpecAI™ platform was recognized as a Gartner Emerging Tech Innovator in Computer Vision Applications; named a 2025 R&D 100 Finalist; and honored with the coveted SPIE Prism Award. And company co-founders, CEO Matt Theurer and COO Lauren Stack were honored by Washingtonian Magazine as 2025 “Tech Titans of the Year”.
“This round underscores investor conviction in our progress and potential,” said CEO Matt Theurer. “We are aiming to scale rapidly into the broad biotech, industrial, and defense markets and are excited to have Chuck Mattera join our Board. Chuck’s leadership and experience will be instrumental as we penetrate these markets in the U.S. and expand globally. In its initial deployments, HyperSpectral’s platform combines chemical physics and materials-science-based spectroscopy with advanced AI algorithms trained on proprietary data sets, enabling the rapid, non-invasive detection of bacteriological pathogens in minutes and without specialized lab preparation. This results in immediate breakthroughs in lower costs, faster cycle times, higher quality and better reliability,” said Theurer.
The $7M raise will provide resources to develop HyperSpectral’s technology platform further ahead of commercial scaling and solidify its leadership position with key customers and partners.
“Spectral Intelligence can change the way industries organize to leverage AI to help make decisions and control processes by providing data instantly, with differentiated advantages including reliability and scale,” said Dr. Chuck Mattera. “HyperSpectral has the vision, team, and technology to lead this transformation, and I am pleased to have been selected to join the Board and for Avalanche Thinking to support the company’s exciting growth aspirations.”
About HyperSpectral
Based in Alexandria, VA, HyperSpectral combines physics-based spectral data and advanced AI to deliver rapid, reliable answers in MedTech, food safety, and defense—enabling confident decisions when and where they matter most. For more information, visit https://www.hyperspectral.ai.
About Avalanche Thinking
Based in Miami, FL, is US-centered and globally connected. Our name is inspired by the physics of avalanche photodetectors, where a single trigger can unleash the amplified power of a transformative cascade. We are long-term focused on unlocking an avalanche of industrial reinvention. We collaborate with visionary founders and forward-looking management teams and their capital partners from seed to scale. Avalanche Thinking aims to spark the creation of novel capabilities that will drive productivity gains and accelerate the adoption of new products and applications in exciting growth markets, while aiming to provide resiliency and attractive returns. https://avalanchethinking.com/home/
About RRE Ventures
RRE Ventures is a New York-based leading Seed and Series A venture capital firm that partners with bold founders transforming massive industries through technology. Since its founding in 1994, RRE has backed over 400 companies across sectors including FinTech, Digital Health, Enterprise Software, Crypto & Blockchain, and Space.
With $2B+ under management and more than 125 successful exits, RRE combines deep sector expertise, a global network, and a hands-on approach to help entrepreneurs build enduring, category-defining businesses. https://rre.com
About Kibo Ventures
Kibo Ventures, a leading venture capital firm established in 2012, is dedicated to partnering with founders to tackle today’s biggest challenges through technology, helping them grow and scale internationally in Europe, Latam and USA. Its portfolio includes companies with a strong technological focus and global reach, such as Flywire ($FLYW), Devo, Job&Talent, Sorare, Exoticca, and Capchase. https://kiboventures.com