InVisage nets $17.8M in capital for QuantumFilm
InVisage Technologies Inc. has secured an eight-digit sum out of a total equity offering of $30 million. Dated 25 March 2014, the Securities and Exchange Commission file shows a total of $17,832,709.
In February the company announced it had received a Series D round of venture funding led by GGV Capital and including Nokia Growth Partners who joined existing investors RockPort Capital, InterWest Partners, Intel Capital and OnPoint Technologies.
InVisage said it would use the Series D money to begin manufacturing its QuantumFilm image sensors, which are being evaluated by phone manufacturers.
QuantumFilm is the world's most light-sensitive image sensor for smartphones, InVisage claims. The company's approach is to add a layer of quantum dot film to conventional CMOS image sensors. The increased sensitivity provides more headroom for sensor design and improves photographs in low light conditions.
"The participation of new investors, including a major handset maker, in this round signals that imaging is a critical differentiator in mobile devices," said Jess Lee, CEO of InVisage Technologies, in a statement.
InVisage made the news recently by producing a promotional video described as an introduction to company's product but did so while deriding the communications skills of engineers.
- Peter Clarke
EE Times Europe