The investment was made by a Taiwanese VC fund.
Israeli cellular technology start-up Advasense Ltd. has received a further $6 million from Taiwanese venture capital fund CIDC Consultants, bringing the total raised in its third financing round to $20 million. This is CIDC's first investment in an Israeli company. Advasense raised $14 million earlier this year from Genesis Partners, Giza Venture Capital, BlueRun Ventures, which has supported the company since it was founded, and Venture Tech Alliance LLC.
Advasense CTO Vladimir Koifman and chief engineer Nathan Baron founded the company in 2004. The two men are both experts in semiconductors and analog and digital image processing and have over 45 patents in the area. They joined forces with serial entrepreneur Gideon Barak, who serves as chairman of the company. Advasense develops develops CMOS image sensor CIS) products for the mobile phone market. The company’s sensors improve the picture quality of cellphone cameras to that of regular digital cameras
Advasense CEO Naftaly Sharir said, "We see tremendous value in the entry of CIDC as an investor in Advasense, thanks to its close ties with key industries in Taiwan, and its track record in investment in the semiconductor industry. We are confident that CIDC will make a significant contribution to our success in the image sensor market."
Published by Globes [online], Israel business news - www.globes.co.il - on November 21, 2007
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