SOURCE: Mantis Vision

Mantis Vision

June 03, 2015 11:00 ET

Mantis Vision Raises $9.7 Million in an Investment Round Lead by Formation 8 to Accelerate MV4D™ 3D Core Technology Adaptation

Plans to Penetrate Mobile Devices, and Professional Markets

PETACH TIQVA, ISRAEL--(Marketwired - June 03, 2015) - Mantis Vision, a developer of state-of-the-art 3D enabling technology and solutions, announced today that it has secured a $9.7 million strategic investment round from Formation 8, existing investor Qualcomm Incorporated, through its investment arm Qualcomm Ventures, and additional investors.

Mantis Vision intends to use the raised funds to establish a leading position in its emerging markets using its core MV4D™ technology platform.
Mantis Vision's MV4D core 3D technology enables superior 3D data acquisition and data quality. MV4D enables unmatched 3D technology capture and output via embedded mobile devices, handheld cameras and scanners. This technology is a key component of both professional- and consumer-level applications across a wide customer base of leading mobile technology companies, device manufacturers, applications developers, and content creators.

"We believe that our superior 3D technology will become the platform of choice for accurately capturing depth and motion in a way that best portrays reality. This investment helps us drive our dream, innovations and technology to many new products both in the consumer and in the professional markets," said Mantis Vision CEO Tzach Hadas.

Mr. Tzach Hadas recently joined Mantis Vision and serves as the company's CEO since March 2015. Before joining Mantis Vision, Tzach held the position of Chief Operating Officer at PrimeSense (acquired by Apple), the 'inventor' of the Microsoft 3D Kinect camera and has over 20 years of experience in various engineering, operations and executive management positions. Before joining PrimeSense, Tzach served as Vice President of Operations for Zoran Corporation and as General Manager of Zoran Microelectronics Ltd.

"We are very excited to be partnering with the team at Mantis Vision. As we learned from our investment in Oculus, content is a critical driver for the emerging VR and AR ecosystems. We believe Mantis Vision will be enabling tremendous content creation to empower the next generation 3D world," added Mr. Lior Susan, Partner at Formation 8.

"Qualcomm's follow-on investment in Mantis Vision aims to accelerate the mobile penetration of MV4D," says Mony Hassid, senior director, Qualcomm Ventures. "The drive is to introduce new use cases and applications in advanced mobile platforms."

About Mantis Vision
Mantis Vision develops technologies and products that will bring 3D to every mobile device, home and business. Its software and hardware component solutions, based on its core MV4D "motion capable" 3D range-imaging technology, are designed to enable user-generated content creation (UG3D) throughout the 3D ecosystem.

For more information, visit www.mantis-vision.com.

About Formation 8
Formation 8 is a venture capital firm that provides financial and strategic capital to early growth technology companies. We support entrepreneurs who seek to transform the most important global industries by solving hard problems with technology solutions. Partnership is in our DNA. We value trusted relationships with entrepreneurs, investors, and strategic partners through our global network. For more information, visit www.formation8.com.

About Qualcomm
Qualcomm Incorporated (NASDAQ: QCOM) is a world leader in 3G, 4G and next-generation wireless technologies. Qualcomm Incorporated includes Qualcomm's licensing business, QTL, and the vast majority of its patent portfolio. Qualcomm Technologies, Inc., a wholly-owned subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of Qualcomm's engineering, research and development functions, and substantially all of its products and services businesses, including its semiconductor business, QCT. For more than 25 years, Qualcomm ideas and inventions have driven the evolution of digital communications, linking people everywhere more closely to information, entertainment and each other. For more information, visit Qualcomm's website, OnQ blog, Twitter and Facebook pages.

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