Investment will be used to develop "Natural3D" technology for consumer electronics, industrial and medical applications
MADRID and SAN FRANCISCO, Aug. 23, 2016 /PRNewswire/ -- Wooptix, the first spin-off company from Universidad de La Laguna in Tenerife, Spain, has today announced a Series A funding of US$3.3 million. The funding will be used to develop Wooptix's Natural3D software to provide advanced imaging capabilities for smartphones and other devices at full resolution.
The technology has broad applications, from 3D acquisition using a single camera of a mobile phone to high precision measurements for industrial purposes using portable devices. Natural3D technology can be implemented for both photo and video acquisition using a single camera with standard optics.
Professor José Manuel Rodríguez-Ramos, the inventor behind Wooptix's technology, is leading a team of highly experienced imaging and optical engineers who have successfully proven the technology in the astrophysics field, and now aim to develop new applications in the medical, industrial and consumer electronics market segments.
"N3D is a significant advance in imaging technology and will help bring new capabilities of augmented reality and 3D vision to the next generation of smart devices," said Javier Párraga, co-founder and CEO.
"Already, Natural3D has the power to transform any standard camera into a 3D one. This is just the beginning," added Professor Rodríguez-Ramos.
Led by the Spanish VC Bullnet Capital and Intel Capital along with the participation of Spain's Caixa Capital Risc, the venture capital division of "la Caixa", this round will help Wooptix to tailor their imaging technology for different platforms.
Erik Jorgensen, director at Intel Capital and Javier Ulecia, partner at Bullnet Capital, will join Javier Párraga and Javier Elizalde (co-founders) on the company´s Board.
According to Javier Ulecia from Bullnet Capital "Wooptix is a company completely in line with our investment criteria: a team with proven experience in the technology world with patent-protected products, capable of developing an effective commercial strategy at a global level in sectors with growing demand."
"Intel is pleased to work with Wooptix to bring next-generation imaging technologies to consumers. Wooptix's expertise in advanced computational photography, coupled with Intel processors, will enable consumers to capture immersive interactive photographs in real time," said Arjun Kapur, Vice President and General Manager of Intel's Imaging and Camera Technologies Group.
About Bullnet Capital
Bullnet Capital is an independent Spanish venture capital firm focused on hi-tech companies in the IT sector (software, electronics, semiconductors, etc.). Established in 2002, it manages a total of EUR€100.0 million under several investment vehicles. To date, Bullnet Capital has invested in a dozen early stage Spanish companies, and maintains its investment philosophy of adding value and contributing to the day-to-day operations of portfolio companies. Visit www.grupobullnet.com or follow @bullnetcapital.
About Intel Capital
Intel Capital, Intel's strategic investment and M&A organization, backs innovative startups targeting computing and smart devices, cloud, datacenter, security, the Internet of Things, wearable and robotic technologies and semiconductor manufacturing. Since 1991, Intel Capital has invested US$11.7 billion in 1,457 companies worldwide, and 605 portfolio companies have gone public or been acquired. Through its business development programs, Intel Capital curates thousands of introductions each year between its portfolio executives and Intel's customers and partners in the Global 2000. For more information on what makes Intel Capital one of the world's most powerful venture capital firms, visit www.intelcapital.com or follow @Intelcapital.
About Caixa Capital Risc
The venture capital arm of "la Caixa", one of the main financial groups in Spain, invests in the early stages of innovative startups with high growth potential. Caixa Capital Risc currently manages EUR€180.0 million through various specialized vehicles based on the sector and stage of growth of the project and has minority participation from the CDTI, the ICO, the ICF, and other agents. Although they invest in multi-sector companies with a global vision, Caixa Capital Risc remains focused on sectors they consider to be emerging: technology, digital industries, industrial technology, and life sciences. Visit www.caixacapitalrisc.com or follow @caixacr
Wooptix is an imaging technology solution provider, formed by a team of specialists, mostly PhDs and engineers with more than twenty years of experience in advanced imaging and adaptive optics. The company has successful applications installed in several astrophysics locations worldwide.. The company's main R&D facilities are based in Spain, with plans to open in the San Francisco Bay area soon. Visit www.wooptix.com or follow @hellowooptix and https://www.facebook.com/wooptix/?fref=ts