Ceva led the financing together with Mitsui
eyeSight Mobile Technologies Ltd., a developer of touch-free interfaces for digital devices, has raised $4.2 million in its second financing. Ceva Inc. (Nasdaq:CEVA); LSE:CVA) and Mitsui & Co. Global Investment Ltd., the investment arm of Japan's Mitsui & Co. Ltd. (TSE: 8301) led the round, joined by current investors, including Prof. Eli Talmor, founder and chairman of the Coller Institute of Private Equity at the London Business School.
eyeSight CEO Gideon Shmuel said, "The addition of proven market leaders such as Ceva and Mitsui emphasizes their strong belief in eyeSight's innovative Gesture Recognition Technology and our ability to bring it to the mass market. Our investors realize that our software, which can be easily integrated into devices, chipset, operating systems and applications, provides an easy way to extend the normal user interface into new areas, offering greater interaction and user experience."
eyeSight added that Ceva, with its leading position in the DSP IP market and its strong presence across many devices and vendors in the handset and consumer electronic market, would boost the company's reach, and that Mitsui's prominent position in the Japanese market would help eyeSight expand its presence in that strategic local market.
eyeSight's customers include Apple Inc. (Nasdaq: AAPL), which uses the technology in iPhones; China's HiSense Electric Co. Ltd. (SSE: 600060), which has installed the company's technology in its smart TVs, and Korea's Pantech Ltd., which will use the technology in its smartphones.
Ceva CEO Gideon Wertheizer said, "The combination of the fully programmable Ceva-MM3000 together with eyeSight's industry-leading gesture technology clearly demonstrates the versatility of our powerful, software-based ISP and video platform significantly. This partnership expands the market reach for our Ceva-MM3000 platform to include the burgeoning embedded vision and scene analysis arenas and we are excited to bring the two companies closer together through this equity investment."
Published by Globes [online], Israel business news - www.globes-online.com - on November 22, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011
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