Corephotonics Ltd., which is developing computational photography technologies for phone-cameras, has announced the completion of its first round of financing. The company has raised $5.2 million from Magma Venture Partners, BetaAngels, a European investment company led by VC practitioner Roberto Saint-Malo and others.
Corephotonics says that its technology will result in a performance leap in camera-phone photography, by achieving the photographic and video capabilities of digital stills cameras, while maintaining the space and cost restrictions of smartphones.
Based in Tel Aviv, the recently establshed company is led by industry veterans and serial entrepreneurs Prof. David Mendlovic, Dr. Gal Shabtay, and Eran Kali. This team previously played a pivotal role in the introduction and adoption of EDOF (“Digital Auto Focus”) technology, used widely by leading device OEMs, and generated other significant innovations in the compact camera space.
Corephotonics is developing innovative solutions spanning two primary product lines: Actuators - tiny electro-mechanical engines which improve focusing capabilities, and enable optical image and video stabilization; and computational cameras - sophisticated optical systems combined with complimentary image processing, which will provide dramatic improvements, such as true optical zoom, lower profile optics, low light improvement, 3D mapping, and more.
Corephotonics adds that it is engaged with partners from the camera-phone value-chain towards establishing a solid supply basis for products based on its technology.
Published by Globes [online], Israel business news - www.globes-online.com - on January 31, 2013
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