The investment in the Herzliya-based company was led by Nokia Venture Partners.
Nokia Venture Partners, a venture capital firm that focuses on early-stage technology companies, has led a $4 million investment in Israeli digital imaging company Advasense. The other investors in the financing round are Giza Venture Capital.
Advasense, based in Herzliya, is developing a CMOS image sensor for digital cameras and mobile phones, claimed to be which is 15-30 times more sensitive than the best image sensors available in the market today.
“Advasense is clearly at the forefront in revolutionizing the performance of CMOS image sensors in digital imaging products, said Nokia Venture Partners senior vice president Yossi Hasson.
“Advasense’s objective is to deliver unique imaging sensors,” said Advasense founder and chairman Gideon Barak, “Aligning ourselves with Nokia Venture Partners enables us to expand our offerings while being backed by a well known global venture capital firm.” Giza managing director Ori Kirshner said, “Advasense has the potential to become the market leader in CMOS image sensors for camera phones. They are an extraordinary team and they have a breakthrough technology.”
Published by Globes [online], Israel business news - www.globes.co.il - on January 23, 2005