Pyreos Secures $4M for Global Expansion
EDINBURGH, Scotland, Nov. 4, 2013 — Infrared sensor maker Pyreos Ltd. is planning an international expansion now that it has secured $4 million through a funding round.
The investment was led by Robert Bosch Venture Capital GmbH, UK-based venture capital fund Seraphim Capital, Siemens Technology Accelerator and the Scottish Investment Bank, the investment arm of Scottish Enterprise.
Pyreos, a technology spinoff of Siemens, makes thin-film pyroelectric infrared sensor technology. Its gesture and proximity sensors are making strong inroads into the global smartphone and tablet markets because they use just microwatts of power, making them several orders of magnitude more energy-efficient than competing technologies, the company said.
"Reducing power consumption by the magnitude achieved by Pyreos creates massive potential in mobile and handheld applications across both consumer and industrial markets," said Claus Schmidt, managing director of Robert Bosch Venture Capital. "The new investment will fund growth in the team to enlarge its already established international customer base."
For more information, visit: www.pyreos.com