Pixim Snaps $13 Million from V.C.s
December 19, 2008
From: The New York Times
When you have a lot of customer traction, it seems, it isn’t hard to raise more money. Pixim, whose chips are used in hundreds of models of security cameras, has proven that by raising $13 million in new round of funding from existing investors, VentureBeat says.
The fresh funding means the company has raised over $100 million since its launch in 1999. Backers for the maker of image sensors and processors include Mayfield Fund, Ridgewood Capital and Tallwood Venture Capital. The Mountain View, Calif.-based company will use the money to accelerate its expansion in overseas markets, fuel new product development, and expand its marketing and sales programs.
Pixim’s chips have image sensors that can capture a lot of data quickly. The images exhibit wide dyanmic range, or the ability to capture bright and dark parts of a scene at the same time.
The chips are used in more than 300 cameras that ship in 90 countries. The markets include financial services, retail, and transportation.
The company raised $5.1 million earlier this year and has now raised $106.7 million.
Other companies thriving in the security chip market include Stretch, which has also raised $100 million since 2002. Stretch makes analog video processing chips that often sit alongside chips made by Pixim.
