MultiVu announced the completion of a $7M seed round led by Israel’s most active venture investor OurCrowd, Cardumen Capital and Hong Kong based investment firm Junson Capital.
TEL AVIV, Israel, May 16, 2019 /PRNewswire/ -- MultiVu, developing proprietary 3D imaging solutions using a single sensor and deep learning derived algorithms, today announced the completion of a $7M seed round led by Israel’s most active venture investor OurCrowd, Cardumen Capital and Hong Kong based investment firm Junson Capital. MultiVu will use the funding to complete development of its first sensor product for 3D Face Authentication applications. Funds will also be used for marketing and business development activities. The technology development that led to the formation of the company was supported by TAU Technology Innovation Momentum Fund.
MutliVu’s innovative 3D image camera is based on a single sensor as opposed to existing solutions using two sensors and a light projector. This unique solution produces both pictures and video streams as needed. MultiVu’s single sensor solution is inexpensive, compact and energy efficient.
Doron Nevo, CEO of MultiVu said “The technology, which passed the proof-of-concept stage will bring 3D Face Authentication and affordable 3D imaging to the mobile, automotive, industrial and medical markets. We are excited to be given the opportunity to commercialize this technology.”
Eli Nir, OurCrowd Senior Investment Partner said, “We are pleased to invest in the future of 3D sensor technologies and believe that MultiVu will penetrate markets, which until now could not take advantage of costly 3D imaging solutions. We are proud to be investing in a third company founded by Prof. David Mendlovic (that just recently sold CorePhotonics to Samsung), managed by CEO Doron Nevo - a serial entrepreneur with proven successes and a superb team they have gathered around them.”
MultiVu’s technology is based on four years of research conducted by Prof. David Mendlovic and his team from the Faculty of Engineering at Tel Aviv University (TAU). A licensing agreement was recently signed with the TAU, Technology Innovation Momentum Fund, managed by Ramot, TAU’s Business Engagement Center.
Shlomo Nimrodi, Ramot CEO said, “A successful venture is a team effort, and we are happy to establish the fourth start-up company that was funded by the TAU Technology Innovation Momentum Fund, this time with Prof. Mendlovic and his innovative team. We are confident that this technology, has the potential to change the way 3D authentication is made and will set new standards in this field in multiple applications.”
The market for 3D Imaging applications is growing exponentially, and MultiVu intends to become a major player in this sector.
About MV-APT, Ltd.
MultiVu is an Israeli startup company developing state-of-the-art 3D Imaging sensors for mobile, automotive, industrial and medical applications. MultiVu’s patented technology has been under development by the company’s core technical team for the past 4 years in the lab of Prof. David Mendlovic at the Electrical Engineering Department of Tel Aviv University. MultiVu secured an exclusive worldwide license to the technology and is planned to bring a product to market within the next 2 years.
For more information, Visit us at www.multivutech.com.
About OurCrowd: OurCrowd is the leading global equity crowdfunding platform for accredited investors. Managed by a team of seasoned investment professionals and led by serial entrepreneur Jon Medved, OurCrowd vets and selects companies, invests its own capital, and invites its accredited membership of investors and institutional partners to invest alongside in these opportunities. OurCrowd provides support to its portfolio companies, assigns industry experts as mentors, and creates growth opportunities through its network of strategic multinational partnerships. The OurCrowd community consists of almost 30,000 registered investors from over 180 countries. Rated “the most active venture investor in Israel” by Pitchbook, OurCrowd has $1B in commitments and has made investments in 170 companies and funds. OurCrowd already has 32 exits to date. OurCrowd exits include: Jump Bikes sold to Uber, Briefcam sold to Canon, Argus sold to Continental, Crosswise sold to Oracle, and Replay sold to Intel. To join OurCrowd as an accredited investor, visit www.ourcrowd.com.
About Junson Capital: Headquartered in Hong Kong, Junson Capital is a prominent investment management company with multiple investment strategies and global footprints. Anchored by family funds, its business covers real estate, financial assets, venture capital and private equity.
About Cardumen Capital: Cardumen Capital is a European regulated venture capital firm founded in 2017 with offices in Tel Aviv and Madrid. Cardumen’s first fund specializes in b2b deep tech companies in Israel in the areas of AI, Cybersecurity and Big Data. Cardumen Capital co-invests along tier-1 financial and corporate investors in elite teams solving global problems with technology.
For more information visit www.cardumencapital.com.
About Ramot at Tel Aviv University and the Momentum Fund: Ramot is the Business Engagement Center at Tel Aviv University, Israel’s largest research and teaching university. Rooted in both academic and corporate arenas, Ramot is uniquely positioned to cultivate the special relationships between these two compelling worlds, creating win-win connections that support fertile, ground breaking research while providing companies with discoveries that give them a crucial competitive edge. The Momentum Fund is the most recent of Ramot’s funds to become operational. This fund offers around one-million-dollar funding for translational research technologies at Tel Aviv University in a wide range of fields, including pharmaceuticals, healthcare, high-tech and the physical sciences.
For more information, visit http://www.ramot.org.
For images: http://blog.ourcrowd.com/multivu-images/
Press contact: Leah Stern, OurCrowd Dir. Of Communications / UK: +44-747-0196826 / E: leah@ourcrowd.com
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SOURCE MultiVu
