InVisage Tops $100 Million in Funding With New $18 Million Round, Expands Exec Team
MENLO PARK, Calif., April 22, 2014-- As it readies its QuantumFilm™ Camera Sensor for launch, InVisage Technologies, Inc. today announced a new round of funding, two new leadership appointments and a first product sampling to select customers.
InVisage's $18 million round of funding brings the total amount that it has raised since its creation to more than $100 million. Investors include GGV Capital, Nokia Growth Partners, RockPort Capital, InterWest Partners, Intel Capital and OnPoint Technologies.
The additional funding enables InVisage to scale manufacturing capacity from its initial pilot production line to support high volume customers and further its mission to mass produce fast, thin, high performance cameras in ultra-small form-factors.
InVisage's QuantumFilm™ is the camera industry's most significant development since the invention of CCDs. Initially targeted at smartphones, QuantumFilm™ cameras produce, high-quality photos, even in extreme lighting conditions. InVisage has transformed the camera sensor by adding a thin layer of quantum dot film on standard CMOS wafers to produce high performance cameras that can be mass-produced leveraging conventional CMOS processes.
InVisage also expanded its leadership team with two new additions: Ephraim Kwok as CFO and Emanuele Mandelli as VP of Engineering.
Kwok brings more than 35 years of financial management experience, including over 20 years as a CFO. Between 2005 and 2012, he was the CFO of Alpha and Omega Semiconductor where he successfully completed a private round of financing, an IPO and two strategic acquisitions. During his tenure at Elantec Semiconductor, he successfully completed a follow-on public offering.
Mandelli has more than 20 years of image sensor, x-ray detectors and particle physics detectors experience. He began his career at the Lawrence Berkeley National Laboratory where he designed integrated circuits for high energy physics, space and medical instrumentation. He delivered the pixel readout modules for the Atlas CERN inner detector that eventually confirmed the Higgs boson theory. He then joined AltaSens, an early stage venture spun off from Rockwell Scientific later acquired by JVC Kenwood where he designed high end CMOS image sensors for cinematographers, television broadcasters and filmmakers.
"I am delighted to welcome Ephraim and Emanuele to the InVisage family," said InVisage President and CEO Jess Lee. "With the breadth of knowledge and experience they bring, Ephraim and Emanuele further strengthens our base in order to bring QuantumFilm™ products to market and ushering in a new era in cameras."
"QuantumFilm™ is one of the most exciting camera innovations we have seen in the last decade, as conventional CMOS sensors have hit an innovation wall," said Bo Ilsoe, Partner, Nokia Growth Partners and InVisage board member. "Jess has built a great team at InVisage and they are now bringing their highly differentiated products to the market."
InVisage also revealed that the first InVisage QuantumFilm™ image sensor has begun sampling to selected customers. For more up-to-date information, please visit www.invisage.com/blog.
About InVisage Technologies, Inc.
InVisage Technologies, Inc. is a venture-backed, fabless semiconductor company based in Menlo Park, Calif. that has developed QuantumFilm™, a breakthrough camera technology. Its first product captures high-fidelity, high-resolution images from mobile devices such as camera phones and digital cameras. Founded in 2006, InVisage Technologies is venture funded by GGV Capital, Nokia Growth Partners, RockPort Capital, InterWest Partners, Intel Capital, and OnPoint Technologies. More information is available at www.invisage.com.
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