LONDON LensVector Inc. (Mountain View, Calif.), a startup founded in 2006 to commercialize optical technology that can shape, steer and focus light without mechanical movement, has announced that Foxconn Technology Group and UMC have joined Samsung as investors in the company's $30 million Series C financing round.
Other investors joining the Series C round include TransLink Capital and Harbor Pacific. The proceeds will be used to expand LensVector operations, the company said. The C round brings the total financial backing of the company to more than $50 million.
LensVector's technology, which replaces complex, bulky and fragile mechanical autofocus mechanisms, is sampling to key customers. The technology uses a buried layer of liquid crystal material so that electronic control can be used to alter the lens qualities of a glass cell.
"These investments are strong industry endorsements from the top players in mobile consumer electronics, and we are poised to make significant contributions to the industry with our breakthrough optical technology," said LensVector CEO Derek Proudian, in a statement.
"LensVector's unique technology makes advanced camera features, previously only available in point and shoot digital still cameras or high-end handsets, practical for every camera phone," said Brian Kang, managing director of Samsung Ventures America, in the same statement. "LensVector autofocus has the potential to greatly expand the market, with increased revenue opportunities for service providers and an improved picture-taking experience for consumers all over the world. The technology is also perfect for video."
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