GEO Semiconductor, Inc., a Santa Clara, California-based provider of programmable, high performance, geometric processor (eWarp) IC solutions for a wide range of video and image processing applications, has secured $1.6m in financing.
The transactions include an approximately $1.3m equity investment from existing investors and an approximately $300k convertible debt agreement.
According to a written statement, GEO has also started raising a $10m Series B funding to complete the development of its new GEN 4 eWARP processor.
GEO’s low cost eWarp ICs are designed to simultaneously correct all optical issues, while enabling new applications such as real-time HD fisheye/360 unwarping and multiple-camera stitching in surveillance, video conferencing and mobile applications.
Led by Chairman and CEO Paul Russo, the company currently provides eWARP and Realta IC devices, which are used in video conferencing, projection, surveillance, professional/medical LCD display, broadcast equipment, dynamic signage, and laser 3D TV.
The new eWARP ICs will enable GEO’s expansion into the automotive, smartphone, tablet and related peripherals markets.
The company has offices in Toronto (Canada) and Orlando, with sales channels around the world.
FinSMEs
19/10/2011