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Samsung, Foxconn, MediaTek invests in dual camera maker
Corephotonics, an Israeli startup developing dual camera technologies for smartphones, recently completed a USD 15 million funding round. To date, the company has raised more than USD 50 million.
In this funding round the Corephotonics was backed by South Korean Samsung Ventures, EMS-giant Foxconn, Taiwan’s MediaTek, and an unnamed tier-1 smartphone OEM.
Among the Israeli company's current investors we find – among others – Magma VC, Samsung Ventures, Amiti Ventures and SanDisk.
Corephotonics technology improves the image quality for smartphones. The technology is based on the combination of two cameras, which enables stills photography with optical zoom of up to 3x and up to 8x zoom in video. It also enables creating a bokeh effect (blurring the picture’s background and making the main subject stand out), a considerable improvement in picture resolution, and preventing motion blur.
In 2016 the smartphone market began adopting such solutions, led by Apple, which uses similar technology in its iPhone 7 Plus, supporting optical zoom and digital bokeh. And more and more companies are using dual main cameras for their products.
The investment, along with the existing cash on hand and revenue forecast for 2017, will be used for developing next generation cameras for smartphones, and for expanding existing products’ penetration. In addition, the new funding will help Corephotonics expand into the automotive, drone, surveillance, and action camera markets, the company says in a press release.
