GEO Semiconductor Recieves $3M in Debt Financing

GEO Semiconductor Inc., a Santa Clara, California-based provider of programmable, high performance, geometric processor (eWarp) IC solutions for smartphones & peripherals, video communications, surveillance, wearable and automotive video camera markets, has secured $3m in debt financing, which converts into Series B equity when a certain threshold is achieved.

The provider of the financing was not disclosed.

The company is in the process of completing a $7+ million of Series B funding. It plans to use the proceeds to complete the development of its new GEN 4 eWARP processor, which simultaneously correct all optical and alignment issues, while enabling new applications such as real-time HD fisheye/360/elliptical de-warping and multiple-camera stitching in surveillance, video communications, smartphone & smartphone peripherals, and in automotive camera applications.

Led by Chairman and CEO Paul Russo, GEO Semiconductor operates offices in Toronto and Orlando, and has sales channels around the world.

FinSMEs

11/06/2012

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