PixelOptics, a Roanoke, Va.-based developer of electronic focusing eyeglasses, has closed a $45m equity and debt financing round.
The $35m equity round was led by Safeguard Scientifics Inc. (NYSE: SFE), with participation from Delphi Ventures, The Carlyle Group, Longitude Capital, and Stark Investments.
The $10m debt financing was provided by Horizon Technology Finance (Nasdaq: HRZN).
As also stated by Pixel’s President and CEO Ron Blum, O.D., the company intends to use the proceeds to launch its an electronic focusing eyeglasses emPower! across North America and begin a regional rollout in Europe within the next 12 months. Following this, they expect to start selling emPower! in Asia within 24 months.
In conjunction with the close of the round, Gary J. Kurtzman, M.D., Stephen T. Zarrilli, Managing Director in the Life Sciences Group and Senior Vice President and CFO at Safeguard Scientifics respectively will be joining Pixel’s board of directors.
FinSMEs
07/04/2011