A Loughborough engineering firm is set to create jobs and expand internationally after securing a £1.5 million investment.

Phase Vision, which designs and sells 3D measurement devices to help aircraft and car manufacturers, is now looking to sell its products in Asia, America and Europe.

The funding comes after investor group Qi3 Accelerator chose to work with Phase Vision and its existing investors, Octopis, Lachesis and Loughborough University, following a successful presentation in London.

Phase Vision was formed at Loughborough University in 2002 and is now based in Ashby Road in the town.

Its devices enable manufacturers to get a quick and accurate analysis of whatever items they are making to ensure high quality.

The company's chief executive Ralph Weir said: "I'm delighted to have received this support from our existing investors and the business community.

"We have an exciting and innovative product which is being adopted by major manufacturing companies and I'm keen to see it roll out around the world.

"Our team has worked hard to get Phase Vision to this stage and we have the resources to go for growth.

"At the moment, the countries we are particularly looking at are Korea and the US."

As well as exporting to other countries, the company is also aiming to increase its UK sales.

Mr Weir said by the end of the year he expected the company to have created at least eight jobs in sales, support and production.

Phase Vision's products help aircraft manufacturers boost fuel efficiency by providing extremely accurate measurements that allow them to design more aerodynamic planes.

It also sells to the nuclear industry.

Mr Weir previously said Phase Vision's products could be also used in the bio-science industry and in designing false teeth, crowns and prosthetic limbs.

Loughborough University pro vice-chancellor Prof Steve Rothberg said: "Since the breakthrough in technology was made here at Loughborough in the mid-1990s, an excellent team has developed and I am delighted Phase Vision now has the investment to fulfil its potential.

"This is an excellent example of how the university's world-leading research can make a positive impact on the UK manufacturing base."

Nathan Hill, managing director of Qi3 Accelerator, who has joined the Phase Vision board as a non-executive director, said: "I'm passionate about the resurgence of British high value manufacturing.

"I'm particularly pleased Phase Vision's products enable efficient manufacture with reduced environmental impact."