Thursday, June 04, 2015

Mantis Vision Raises $9.7M, Gets New CEO

MarketWired: Mantis Vision, a developer of structured light 3D vision technologies, raises $9.7M strategic investment round from Formation 8, existing investor Qualcomm Ventures, and additional investors. Mantis Vision intends to use the funds to establish a leading position in its emerging markets using its core MV4D technology platform.

"We believe that our superior 3D technology will become the platform of choice for accurately capturing depth and motion in a way that best portrays reality. This investment helps us drive our dream, innovations and technology to many new products both in the consumer and in the professional markets," said Mantis Vision new CEO Tzach Hadas. Tzach Hadas recently joined Mantis Vision and serves as the company's CEO since March 2015. Before joining Mantis Vision, Tzach held the position of COO at PrimeSense (acquired by Apple). Before joining PrimeSense, Tzach served as VP Operations for Zoran and as GM of Zoran Microelectronics.

"We are very excited to be partnering with the team at Mantis Vision. As we learned from our investment in Oculus, content is a critical driver for the emerging VR and AR ecosystems. We believe Mantis Vision will be enabling tremendous content creation to empower the next generation 3D world," says Lior Susan, Partner at Formation 8.

"Qualcomm's follow-on investment in Mantis Vision aims to accelerate the mobile penetration of MV4D," says Mony Hassid, senior director, Qualcomm Ventures. "The drive is to introduce new use cases and applications in advanced mobile platforms."

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