JANUARY 12--RedShift Systems Corp. (Waltham, MA; www.redshiftsystems.com), a manufacturer of cost-effective thermal-imaging systems, closed $12 million in first-round funding in December. Led by InterWest Partners, the round also saw strong participation from existing shareholders who sponsored the 2005 spin-off of RedShift from Aegis Semiconductor Inc. As part of the financing, InterWest's Mike Boich has joined the company's board of directors.
RedShift will use the funds to drive teambuilding, product development, and scale-up of fabless manufacturing for its core product, the thermal light valve (TLV). The TLV is a tunable optical filter that translates thermal energy into visible images to allow standard CMOS image sensors to "see heat." RedShift's TLV enables IR cameras built with standard sensors and electronics for the $2 billion thermal-imaging market. The company produces camera solutions for mass- market applications in the video-surveillance and security, firefighting, law-enforcement, automotive-safety, and thermography markets.
InterWest was joined in the financing by shareholders of Aegis Semiconductor, who sponsored the spin-off of RedShift in April 2005, including Vesbridge Partners, Alta Partners, Technology Venture Partners, Megunticook Management, and YankeeTek Ventures.
