Intel, Hitachi Fund Photobit's CMOS Technology
PASADENA, Calif., March 2 -- Intel Capital Corp., Hitachi Ltd. and other investors have agreed to provide a $25 million package for Photobit Corp. The investments by Intel and Hitachi, which use Photobit's CMOS-based products in their devices, are strategic investments in the company's intellectual property, Photobit CEO Sabrina Kemeny said.
"Intel is one of our big customers for its PC (video) cameras," Kemeny said. "Hitachi, which supplies semiconductor chips to handset manufacturers, is important for us because of mobile markets," said Kemeny.
Formed in 1995 from research developed at NASA's Jet Propulsion Laboratory in Pasadena, Photobit now has raised a total of $47 million.
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