Photobit Corp. Completes Second Round of Funding
PASADENA, Calif., March 8 -- Photobit Corp., in which Basler AG has an equity investment, successfully completed its second round of financing. In addition to Basler AG, the list of investors now includes Intel and Hitachi. Photobit's second round of financing secured liquid assets of $ 25 million. Photobit is a supplier of CMOS image sensors worldwide.
In September of 1999, Basler AG entered into a strategic alliance with Photobit by acquiring a 16.3 percent stake. In August of 2000, Basler AG increased its investment by acquiring an additional $3.2 million stake. Other than Photobit's founders, Basler remains the largest shareholder in Photobit. The alliance assures Basler access to future key technology in image sensors and includes joint development projects for high-resolution and high-frame rate cameras.
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