poLight raises 18.5M for commercialization of optical polymer lens
Reflowable autofocus-lens provider poLight AS has announced the successful closing of its Series B financing round, raising NOK100 million (US$18.5 million). Trondheim-based Investinor led the round with the participation of existing shareholders Viking Venture III AS, Alliance Venture Polaris AS and SINTEF Venture III AS.
Reflowable autofocus-lens provider poLight AS (Horten, Norway) has announced the successful closing of its Series B financing round, raising NOK100 million (US$18.5 million). Trondheim-based Investinor led the round with the participation of existing shareholders Viking Venture III AS, Alliance Venture Polaris AS and SINTEF Venture III AS.
poLight’s TLens (tunable lens) offers camera module makers next generation Auto Focus (AF) actuators based on a patented optical polymer technology that the company says "will continue to improve camera phone performance" while further reducing cost and size of mobile phones.
TLens products can be integrated into mobile phone camera modules ranging from low-end to high-end devices, with resolution up to 12 Mpixels. poLight says its lens innovation reduces camera module system power consumption by half and enables instant focus for video and still image capture.
“Investors recognize that poLight’s technology is best positioned to bring features enhancing camera phone user experience while, for the manufacturing process, leveraging semiconductor suppliers to ensure cost effective large volume supply,” says Christian Dupont, CEO of poLight.
“We are pleased to play a leading role to allow this high potential Norwegian nanotechnology company, based on 10 years of advanced R&D, to commercialize its technology for use in the highly demanding and rewarding mobile phone market," says Investinor's investment director Ann-Tove Kongsnes. "According to the Japanese market analyst TSR, worldwide mobile camera phone sales to end users reached 1.1 billion units in 2010. We believe the combination of the advanced technology expertise in Horten, Norway and the international industrial experience found within the team is the right combination to handle the challenges found in the high clock speed mobile industry.”
poLight’s round B of financing could be extended to NOK130 million (US$24.5 million) in the second part of the year with additional investors joining the consortium.
-- Posted by Vision Systems Design