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April 26, 2006
Cameraphone Lens Innovator Brings In Third Round
France's Iris Capital has led a €16.4 million ($20M) third round for Lyon-based Varioptic, a developer and manufacturer of a new kind of lens for cameras and cameraphones.
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The firm has been executing on its milestones, according to is steady flow of press release, and this round confirms that. It brings the total amount raised to about €28M, plus an undisclosed amount from Japan's NIFVentures. Its seed stage investor is Paris-based Sofinnova Partners
This is the second cameraphone lens deal this month. (See link to Eyesquad funding below.)
Founded in 2003, Varioptic has developed a liquid lens technology that reduces the number of moving parts, doing all the things that conventional lenses can do but consuming less power, being more robust, and lighter. Target market is cameraphones, but the tech can be used in other types of devices too, says the firm.
Varioptic has yet to sign a volume design-in win but claims more than 100 pilot projects with lens module manufacturers and mobilephone-makers.
The last time we talked to Varioptic, the firm was telling us about its sound IP and patent portfolio. That is because there had been some reports in the trade press about a dispute with Philips, which also has a lens with similar technology. We're trying to find out if it has been resolved.
Read - Varioptic Secures (press release)
Read - Eyesquad funding (a:c euro)
Posted on April 26, 2006 06:12 AM | Posted to Hardware | Venture Capital | Wireless | Permalink
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