Symagery Microsystems Raises $7.5 M

OTTAWA, Ontario, May 28 -- Symagery Microsystems Inc., a supplier of intelligent imaging components based on CMOS sensor technology, announced it has raised $7.5 million CDN (US $5.6M) in second-round financing. The round was led by VenGrowth Capital Partners Inc. and the Canadian Science and Technology Growth Fund, and supported by BDC Venture Capital, Capital Alliance Ventures Inc. and Orisar Inc. The company sais it will use the funds to expand its sales and marketing efforts.

Symagery's smart cameras are used to decode barcodes, for optical character recognition and in machine-vision inspection systems for manufacturing. Applications include handheld imagers and portable data capture terminals in the manufacturing, postal and courier markets. Symagery said it will launch a variety of advanced, highly integrated smart camera components this year that allow electronic systems manufacturers to automate the workplace with customized imaging and data collection equipment.

Michael Keenan, vice president of marketing at Symagery, said, "With the significant advances that we have made in our product development, Symagery is now able to address applications within new markets, including the security, government and medical sectors."

For more information, visit: www.symagery.com