Dblur Technologies Raises $6 Million in Second Financing Round
Dblur Technologies Ltd. (www.dblur.com), developer of Software Lens(TM) Technology, has successfully completed second round financing of $6 million, led by Sequoia Capital. First round investors TempoPark Fund, advised by smac Partners' (formerly Siemens Acceleration in Communications) and Landa Ventures, established by Indigo founder Benny Landa, also participated in the new round.
Dblur's technology is suitable for all digital cameras, and is therefore applicable to the cellular, digital camera, security camera, medical camera, automotive camera and other markets. The company's first target market is the mobile imaging market, which is estimated at billions of dollars and 350 million cameras in 2006.
In the words of Dblur Technologies CEO, Eran Katz: "The Software Lens(TM) Technology we developed provides the optimal solution for camera manufacturers because it replaces complex and expensive optical and mechanical elements and substantially lowers the camera's price. Dblur offers mobile phone camera vendors a solution for the design of higher quality miniature cameras at lower cost."
Sequoia Capital is known to be extremely selective when it comes to new investments. According to Mr. Shmil Levy, Sequoia Capital Israel Partner: "The decision to invest in Dblur was due to the impact of the Software Lens(TM) Technology on the way digital cameras are designed, which is as substantial as the replacement of film by a digital sensor."
Headquartered in Herzliya Pituach, the company plans to recruit employees to continue developing its core technology and applications, while expanding its sales and marketing network in the international markets.
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