Altia Systems Receives $10.5 Million in Series B Funding for PanaCast Personal Panoramic Video System
Intel Capital Is Lead Investor
CUPERTINO, Calif., April 8, 2014-- Altia Systems, developer of the award-winning PanaCast system for video and web collaboration, today announced that it has raised $10.5 million in series B funding, with Intel Capital as the lead investor.
Altia Systems' PanaCast Experience -- which consists of the PanaCast camera, cloud and apps -- is an award-winning, industry-first video and web collaboration service that lets users connect via immersive Panoramic-HD video and HD audio, anytime and anywhere, right from their smartphones, tablets and personal computers. Intuitive touch-enabled controls allow all the participants to see what they want within the whole visual field, in real-time and independently of each other. The PanaCast camera works with leading collaboration platforms like Microsoft Lync, Cisco WebEx, Citrix GoToMeeting and Google Hangouts with no change or upgrade required.
"We are pleased that Intel Capital chose to lead this round," said Aurangzeb Khan, co-founder and CEO of Altia Systems. "Working with Intel Capital will help us further develop the PanaCast Experience and advance the underlying technology roadmap faster and more efficiently, particularly for enterprise customers."
"The way businesses work today has evolved from local to globally-distributed organizations that need to collaborate in real time to win," said Ramamurthy Sivakumar, managing director at Intel Capital. "The PanaCast Experience enables pervasive collaboration and the PanaCast multi-imager technology, when combined with a highly scalable cloud and apps, has the potential to transform how people engage with each other to work, live, learn and play."
About Intel Capital
Intel Capital, Intel's global investment and M&A organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, consumer Internet, digital media and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$11 billion in over 1,339 companies in 55 countries. In that timeframe, 206 portfolio companies have gone public on various exchanges around the world and 344 were acquired or participated in a merger. In 2013, Intel Capital invested US$333 million in 146 investments with approximately 49 percent of funds invested outside North America. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com or follow @Intelcapital.
About Altia Systems
Altia Systems™ (altiasystems.com) is a venture-backed company based in Cupertino, California, and creator the PanaCast™ solution. The award-winning PanaCast™ offers a unique experience that enables anyone on desktop or mobile to communicate in interactive, real-time Panoramic-HD 200° field-of-view video that replicates the human panoramic perspective. Follow @panacast1 on Twitter® for updates.
PanaCast and Altia Systems are trademarks of Altia Systems, Inc. All other trademarks and registered trademarks previously cited are hereby acknowledged and recognized.
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