Gesture recognition solutions developer eyeSight Motion Technologies Ltd. has raised $2 million from a new Korean-Israeli fund Mac and from private investors. The company will use the proceeds to expand to new markets.
The investment follows $4.2 million raised in late 2011 from Ceva Inc. (Nasdaq:CEVA); LSE:CVA) and Mitsui & Co. Global Investment Ltd., the investment arm of Japan's Mitsui & Co. Ltd. (TSE: 8301).
eyeSight is developing touch-free interfaces for digital devices, such as televisions, tablets, and smartphones. The software does not require special hardware, but uses a smartphone or network camera. The company's eyeCan technology is used by the Windows 8 user interface.
eyeSight CEO Gideon Shmuel said, "Many important electronics manufacturers are Korean, and this is a very important market for eyeSight. Collaboration in this market will create intuitive and user-friendly interfaces that will be available for the global market."
eysSight's technology is already available and is embedded in the latest generation of Pantech Co. Ltd. (KSX: 25930) smartphones. The company has also signed an agreement with Chinese television maker Hisense Electric Co. Ltd. (SSE; 600660) to include the company's touch-free interface with Android-based smart televisions.
eyeSight CTO Itay Katz founded the company in 2005.
Published by Globes [online], Israel business news - www.globes-online.com - on July 10, 2012
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