The nonprofit Center for Innovative Technology (CIT; Herndon, VA, USA) has made a $100,000 investment in VanGogh Imaging (McLean, VA, USA), a developer of 3-D rendering software.
When combined with a commercial grade stereo camera, VanGogh’s so-called Vincent software can be used to extract 3-D data after which the company’s proprietary compression technology condenses the resulting data file so that it can be used by applications on smartphone and tablet devices.
“VanGogh’s patented compression technology gives customers the unique ability to reduce the file size of 3-D images such that they can be sent to the cloud for processing from standard mobile devices,” says VanGogh’s CEO Ken Lee.
According to Tom Weithman, CIT Vice President and GAP Funds Managing Director, VanGogh will use the cash injection to plans to further develop its software and expand its workforce.
CIT GAP Funds makes seed-stage equity investments in Virginia-based technology, clean tech and life science companies. Since its 2005 launch, CIT GAP Funds has placed over 60 investments across the Commonwealth of Virginia, deploying greater than $5m of public funds and attracting more than $10 of private funding for every $1 of public money invested.
-- by Dave Wilson, Senior Editor, Vision Systems Design