Israeli 3D content co Mantis Vision raises $55m

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Mantis Vision and Luenmei Quantum also announced the formation of a joint venture to strengthen Mantis Vision’s growth in the Chinese market.

Israeli high-definition 3D content company Mantis Visiontoday announced the closing of a $55 million Series D financing round of $55 million led by Luenmei Quantum Co. Ltd., a new investor in Mantis Vision, and Samsung Catalyst Fund, an existing shareholder of the company. The Petah Tikva based company has raised $84 million to date including the latest financing round.

The new funds will be used to extend the company’s technological edge, accelerate Mantis Vision’s marketing strategy, expand its international workforce and support external growth opportunities.

Mantis Vision and Luenmei Quantum also announced the formation of a joint venture Mantis Technologies to strengthen Mantis Vision’s growth in the Chinese market.

Mantis Vision offers advanced 3D content capture and sharing technologies for a wide array of applications - from 3D cameras for smartphones, industrial/professional grade 3D camera/scanners, and up to a live 3D Volumetric studio. Under this new round of funding, Mantis Vision will be able to extend its R&D efforts by advancing today’s state of conventional 3D technology to new heights with its 3D sensing technology.

The creation of MantisVision Technologies will strengthen Mantis Vision's position in the Chinese market. With operating offices in Beijing and Shanghai, the joint venture will support the introduction of Mantis Vision’s products and technology and provide localization, local sales and support functions in the region.

Mantis Vision is planning to double its global workforce with an additional 140 employees in Israel, US, China and Slovakia by the end of 2020. As part of the latest series funding, Mantis Vision will expand its pool of talent engineers for advanced R&D algorithmic research in computer vision and deep learning, advanced optics experts, mobile camera engineers, 3D apps developers and 3D Volumetric studio experts amongst other open positions in program management and business development. Opportunities for global scale are already underway with Mantis Vision and smartphone maker Xiaomi’s latest partnership to implement Mantis Vision’s 3D camera technology in recently announced Xiaomi's new premium flagship smartphone, the Mi8. Luenmei Quantum Co. president and GM So Chong Keung said, "Luenmei Quantum is closely following the Israeli high-tech industry, which creates outstanding technology. Mantis Vision's versatile and advanced 3D technologies is well positioned and suited for mobile, secure face ID applications and entertainment industries in China. We found that Mantis Vision is the right match for Luenmei Quantum, combining hi-tech, innovation and passion".

Mantis Vision founder and CEO Gur Arie Bitan said, “This latest announcement is another proof of Mantis Vision's meteoric advancements in this recent period, technologically and business-wise. We regard our continued partnership with Samsung Catalyst Fund and Luenmei Quantum Co. as a strategic partnership and thanks to our new joint venture, we will be able to further strengthen our grip in the Greater Chinese market."

Published by Globes [online], Israel business news - www.globes-online.com - on July 16, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

In the dollar we trust
In the dollar we trust
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