Israeli start-up Prime Sense Inc. today announced that it raised $9 million in its first financing round. Gemini Israel Funds and Genesis Partners led the round, which follows the company’s seed round. The company is developing processors for 3D imaging by home entertainment products.
Prime Sense aims to revolutionize how we relate to electronic devices. The company’s concept rests on a device that enables a computer to perceive the world in 3D in the way people do. It is no coincidence that this concept reminds one of computer games. The company’s founders, president Aviad Maizels and CTO Alex Shpunt, as well as software expert Dima Rais, device engineer Ophir Sharon, and head of applications Tamir Berliner are computer gamers who sought a better user experience for the games market.
Prime Sense’s device includes a sensor, which sees a user, and a digital component, or artificial intelligence, which learns and understands user movement within those surroundings. The interactive device can see, track and react to user movements outside the computer, all without change of environment or wearable equipment for the end user. The closed device is plug and play and platform independent. The company says the device is a plug and play system that requires no peripherals.
Prime Sense has been operating in silent mode since it was founded in 2005, and still discloses little information. Like many other secretive companies with great potential, the company’s website, it provides details about the technology, including formulae and software code, but displays this information in a mirror image.
Prime Sense is backed by some big names in the industry. The company’s CEO is Inon Beracha, a former CEO of DSP Group Inc. (Nasdaq: DSPG) and a co-founder of Ceragon Networks Ltd. (Nasdaq: CRNT; TASE:CRNT). The company’s chairperson is Dr. Orna Berry, former Chief Scientist and venture partner at Gemini.
Prime Sense does not yet have a product. However, Beracha says the technology is good enough for making demonstrations and feasibility studies, which he says have been met with enthusiasm. The company’s solution is an engine that includes a processor on which the optical sensor is located.
Prime Sense’s main current target market is games. Beracha is focusing the company’s technology on three segments of this market: consoles, computer games and online games. The company has 12 employees at its office in Herzliya and plans to shortly hire several more.
“Globes”: Prime Sense has ambitious goals. Will you meet them?
Beracha: “It’s our job to prove that our ambition is realistic. The company has a great deal of know-how and an excellent team. The company has successfully demonstrated its feasibility, and we’ve had successful meetings with potential partners. We’ve shown them what we’re doing, and their response was incredible. I imagine that we’ll have a large cooperation agreement within a few months.”
Aren’t you deterred from entering a field in which so many companies have tried and failed?
Prime Sense director and Gemini general partner Avi Hasson: “Personally, this is an investment far outside the box for us. It’s true that there are a lot of skeletons in the closet in this field, but we saw something extraordinary here. This isn't a tiny niche, but something that could have a huge number of applications and can succeed. We want to accompany this company, and today’s round only completes just one stage on the road ahead.”
Published by Globes [online], Israel business news - www.globes.co.il - on August 8, 2006
© Copyright of Globes Publisher Itonut (1983) Ltd. 2006