SANTA CLARA, Calif. -- IC Media Corp., a developer of CMOS image sensors, has concluded a C round of financing with manufacturing, module and distribution partners and their affiliated venture capital funds that has raised $22.5 million.
UMC Capital financing round, the proceeds of which will be used to help the company towards a faster production ramp, as well as for general corporate operation.
In connection with the financing, the board of directors of IC Media is to be reconstituted, IC Media said.
"UMC Capital is pleased to have led this round of funding for IC Media," said Duen Chian Cheng, president of UMC Capital, in a statement. "The company's imaging solutions show great promise as applications for their innovative product family continue to grow. We look forward to being a part of the company's future success," he added.