Marketwired: Horizon Technology Finance Corporation, a finance company that provides secured loans to venture capital and private equity backed development-stage companies, announces it led a venture loan facility, in which Square 1 Bank participated, for InVisage Technologies, Inc. InVisage will use the funds primarily for working capital purposes.
"We are pleased to add InVisage to our top tier list of venture loan portfolio companies," stated Gerald A. Michaud, President of Horizon. "InVisage's QuantumFilm platform and series of products address the fundamental physics limitations of today's silicon-based image sensors used in smartphone cameras and other applications. This loan facility provides InVisage with strategic capital to support the manufacturing and commercialization of its products."
InVisage President and CEO, Jess Lee, shared, "We are pleased to have Horizon as one of our investment partners and are fortunate to have attracted top-tier investors that share our vision of creating the next era of cameras -- fast, thin, high performance -- to transform the mobile, photography and connected device segments. This significant loan facility is an affirmation of the growth opportunity we see for our QuantumFilm™ platform and series of products. We now have additional financial flexibility to drive and market our capabilities to Tier 1 customers."
In April 2014, Invisage announced its latest funding round of $18M, bringing the total investment to more than $100M.