GEO Semiconductor Inc., a Santa Clara, California-based provider of high performance, geometric processing and CODEC video processing solutions, raised $13m.
The financing, which follows the recent acquisition of Maxim Integrated Products, Inc.’s digital video business, is comprised of convertible debt and preferred equity financing from existing and new shareholders, including Panasonic Corporation.
The company intends to use the proceeds to accelerate its product development efforts.
GEO expects to launch a new eWarp IC in the second quarter and one new CODEC IC later in 2013. These new 40 nm ICs are focused on Cloud/IP cameras, Smart/SkypeTV, automotive cameras and HUDs, surveillance, video communications and smartphone peripherals. The new CODEC device will feature an internal eWarp geometric processor core to enable single-chip solutions for wide FOV (field of view) video camera communications applications.
Led by Chairman and CEO Paul Russo, the company also has offices in Bangalore (India), Cambridge (UK), Toronto (Canada) and Orlando (Florida), and sales channels around the world.