poLight AS, a Horten, Norway-based provider of autofocus lens for mobile phone cameras, raised NOK160m in equity funding.
Backers included Investinor, Viking Venture, and Industrifonden, among others.
The company, which was valued at NOK 610 million after the share capital increase and aims to complete an IPO within one year, intends to use the funds to continue its efforts to commercialize its autofocus lens.
Led by Øyvind Isaksen, CEO, and Eivind Bergsmyr, Chairman, poLight offers autofocus lens for mobile phone cameras, which provides instant focus of the image and on all objects in the image, including objects both close to and distant to the camera, as well as the opportunity to refocus the image post-capture.
In cooperation with STMicroelectronics and THEIL, the company’s assembly partner in Taiwan, the production of the first product, TLens Silver, has been qualified.
The priorities going forward will be to ramp up production and secure the first customer.