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.