Pixim, In-Q-Tel Announce Partnership

  • Jun 20, 2007

Pixim Inc., known for its patented Digital Pixel System® (DPS) technology recently announced the completion of its Series B-1 financing, (originally announced on March 7), with participation by In-Q-Tel, the independent strategic investment firm that identifies innovative technology solutions to support the missions of the CIA and the broader U.S. intelligence community.

In-Q-Tel's strategic investment funding will be used to accelerate Pixim's new product development and for general working capital purposes to meet the strong growth arising from demand for Pixim chipsets. Along with In-Q-Tel, Tallwood Venture Capital, Ridgewood Capital and Mayfield Fund have contributed to Pixim's Series B-1 investment round.

"In-Q-Tel invested in Pixim because it offers government and commercial users a new capability to significantly enhance critical decision making," said Troy M. Pearsall, executive vice president of technology transfer at In-Q-Tel. "Pixim's technology provides clear, crisp images with unmatched wide dynamic range that enables cameras to capture all the activity in a scene, even under extremely challenging lighting conditions where other technologies would fail. In-Q-Tel is pleased to be partnering with Pixim and we are impressed with their significant developments in digital imaging technology."

In the last year, Pixim's client base expanded more than 100 percent. Pixim chipsets are incorporated into many surveillance cameras, with dozens of manufacturers incorporating Pixim's chipsets in more than 100 security camera models shipping into more than 50 countries around the world.

"Pixim's new partnership with In-Q-Tel is a natural fit, as we see our imaging technology playing an expanding role in enhancing critical government applications," said Joe Montalbo, president and CEO of Pixim. "In-Q-Tel is a unique strategic investor driven by the technology needs of users within the intelligence community. Pixim is proud to support their important mission."

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