Wednesday, May 20, 2020

Newsight Imaging Raises $7M in Round A Investment

Newsight Imaging has completed a $7M series A round of financing led by Infinity Capital with the participation of George So. The new investment brings Newsight’s total funding, including government grants, to $15M.

The series A financing follows a prototype design with ZKW, a automotive lighting system company, a number of design wins of the NSI1000 eTOF enhanced-Time-Of-Flight chip, and the pilots and engagements in the spectral analysis field with Mekorot, the national water company of Israel, and recently a pilot of at-home coronavirus detection reference design at a leading Israeli medical center.

We welcome our new investors to the Newsight family” said Newsight Imaging’s CEO Eli Assoolin. “While the world came to an almost complete stop due to the Corona Virus situation, Newsight’s team worked intensively to utilize our powerful machine vision chip capabilities with recent technology for water and beverage detection, and built a patent pending device solution for at-home virus detection that is expected to enable fast recovery to normal market conditions and become a key factor that will allow normal life to resume. With Infinity’s guidance and with Dr. George’s strategic partnership, we are confident about Newsight’s scaling and will continue now to round-B fundraising, which is supposed to bring the company to much greater revenues and to new exciting markets.

Newsight will soon offer SpectraLIT, a reference design for spectral analysis:

No comments:

Post a Comment

All comments are moderated to avoid spam and personal attacks.