NEXT-GENERATION IMAGING STARTUP UNISPECTRAL RAISES $7.5M TO REVOLUTIONIZE COMPACT CAMERAS
Unispectral, an Israeli startup developing camera sensors with next-generation seeing and sensing capabilities, today announced the closing of a $7.5 million Series A funding round led by Jerusalem Venture Partners (JVP), RBVC ( Robert Bosch Venture Capital), Samsung Catalyst Fund (the early stage investment arm of Samsung Strategy & Innovation Center) and The Tel Aviv University Technology Innovation Momentum Fund.
Established in 2016, Unispectral is developing an unmatched hyperspectral imaging sensor for the consumer market. The company aims to transform the four-decade standard of color sensing mechanisms in compact cameras. Its revolutionary imaging technology will provide unprecedented low light and rich color functionality, complemented by better resolution.
The company’s hyperspectral sensor will be applicable to a wide range of use cases such as wearables, digital health and medical imaging, Internet of Things, industrial and agriculture applications, and beyond. This breakthrough technology, backed by multiple patents, can distinguish material properties in solids, liquids and gases.
The current round of funding will allow the company to hire additional exceptional talent and expedite product development.
“The mobile market today is ripe for a new killer application changing the way we understand images and identify materials and objects," said Kobi Rozengarten, Managing Partner at JVP. "Unspectral is developing a game changing technology with the potential to re-envision the mobile market."
“This strategic investment by JVP, Bosch and Samsung demonstrates the value of our unique solution," said Unispectral CEO Rami Feig. "Unispectral is leading the revolution in the way we see and capture scenes of the world, from human vision to computer vision."
“We are excited to support this disruptive sensing technology venture, which has promising potential in multiple applications such as mobile, smart machines and IoT”, said David (Dede) Goldschmidt, Managing Director and Head of Venture Investments at Samsung Strategy and Innovation Center, Israel. “The investment in Unispectral demonstrates Samsung’s commitment to global innovation, and to the Israeli startups ecosystem.”
“The ability to provide sensing elements for smarter and flexible imagery is a key capability relevant for multiple areas where Bosch is active”, added Gadi Toren, Venture Capital Investment Partner with RBVC GmbH, the venture arm of the Bosch Group. “We are very excited with the opportunity to take part in this development.”
Unispectral's technology is based on seven years of research conducted at Tel-Aviv University by several leading researchers, including a significant investment made by the Technology Innovation Momentum Fund in early 2014 (jointly owned by Tel Aviv University, Tata, Temasek and other investors). The company was established by a strong co-founding team:
Prof. David Mendlovic, winner of the 1998 ICO (International Commission of Optics) Award, has authored more than 200 articles and holds more than 40 patents, many of which have been commercialized. Two of Mendlovic's patents have become global standards in technology (fibers for internal surgery and long range barcode scanners developed by Symbol Technologies).
Ariel Raz' M.Sc. and doctoral studies research resulted in a breakthrough in the field of imaging and in the fundamental patents that underlie Unispectral's technology. Before co-founding Unispectral and serving as VP of R&D, Ariel served six years in an elite R&D unit within prime minister's office.
Rami Feig, CEO, led numerous cutting edge multidisciplinary development projects, including at the Electronics Research Department of the Israeli Ministry of Defense. Rami is recipient of the Israel Defense Award, Israel’s most prestigious award for technological innovation and contribution to national security.