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Electronics Production | July 27, 2010

Miortech gains Series B funding to market auto-dimming mirrors

Miortech has closed a Series B funding round with its existing partners BOM and Technostars and new investor Point One Innovation Fund.
The Rabobank Eindhoven-Veldhoven is providing Miortech with credit facilities totaling ‚ā¨2.25 million, guaranteed by the Dutch government under its Borgstelling Krediet (Security Credit) program.

Dr. Hans Feil, Miortech‚Äôs CEO commented: “We appreciate the vote of confidence in our technology ‚Äď the new funds will help us to accelerate commercialization so we can introduce products in 2011”. Since its formation in 2006, Miortech has focused on developing, producing and marketing auto-dimming rear-view mirrors for cars. The AlertMirror¬ģ darkens automatically to prevent car headlights from behind dazzling the driver. It comes in different colors enabling designers to match the rear-view mirror to the color of the car‚Äôs interior. An integrated ‚Äėrear-camera display‚Äô and other display features are on Miortech‚Äôs product roadmap."
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