Mantis Vision Raises $55m in Round D

PRNewswire: Mantis Vision announces the closing of its Series D round of $55m with a total investment of $83m to date. New funds will serve to extend the company's technological edge, accelerate Mantis Vision's go-to-market strategy, expand its international workforce and support external growth opportunities. The Series D investment was led by Luenmei Quantum Co. Ltd., a new investor in Mantis Vision, and Samsung Catalyst Fund, an existing shareholder of the company.

Mantis Vision and Luenmei Quantum also announced the formation of a new joint venture, "MantisVision Technologies", to further strengthen Mantis Vision's position and growth in the Greater China Market.

Mantis Vision is planning to double its global workforce with an additional 140 employees in Israel, U.S., China and Slovak Republic by the end of 2020. As part of the latest series funding, Mantis Vision will expand its pool of talent engineers for advanced R&D algorithmic research in computer vision and deep learning, advanced optics experts, mobile camera engineers, 3D apps developers and 3D Volumetric studio experts amongst other open positions in program management and business development.

According to So Chong Keung, Luenmei Quantum Co. Ltd. President and GM: "Luenmei Quantum is closely following the Israeli high-tech industry, which creates outstanding technology. Mantis Vision's versatile and advanced 3D technologies is well positioned and suited for mobile, secure face ID applications and entertainment industries in China. We found that Mantis Vision is the right match for Luenmei Quantum, combining hi-tech, innovation and passion."

According to Gur Arie Bitan, Founder and CEO of Mantis Vision: "This latest announcement is another proof of Mantis Vision's meteoric advancements in this recent period, technologically and business-wise. We regard our continued partnership with Samsung Catalyst Fund and Luenmei Quantum Co. as a strategic partnership and thanks to our new joint venture, we will be able to further strengthen our grip in the Greater Chinese market."