SOURCE: Pixim, Inc.

June 13, 2007 08:00 ET

Pixim Announces Strategic Investment and Technology Development Agreement With In-Q-Tel

Pixim Closes Series B-1 Investment Round

MOUNTAIN VIEW, CA--(Marketwire - June 13, 2007) - Pixim, Incorporated, known for its award-winning, patented Digital Pixel System® (DPS) technology and for setting the industry standard for wide dynamic range image capture in the security camera market, today announced the completion of its Series B-1 financing, (originally announced on March 7, 2007), with participation by In-Q-Tel, the independent strategic investment firm that identifies innovative technology solutions to support the missions of the Central Intelligence Agency (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."

Pixim is rapidly growing its customer base and driving up production volumes. In the last year alone, Pixim's client base expanded over 100 percent. Pixim chipsets are incorporated into the world's leading surveillance cameras, with dozens of manufacturers incorporating Pixim's chipsets in more than 100 security camera models shipping into over 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."

Pixim's Orca chipset is the industry standard for wide dynamic range, ensuring accurate video capture, excellent color rendition, and minimal blooming and smear in challenging lighting conditions, such as glare, direct sunlight, reflections, and strong backlight, 24/7.

Customers shipping Pixim chipsets in their security cameras include: Baxall, CIEFFE, Dallmeier, EverFocus, Tyco Fire & Security, GE Security, General Solutions, Honeywell Security, Ikegami, JVC, Pelco, Siemens, Speco Technologies, Stanley, Sunell, D-Max, GSP, Verint, Camtron, Cohu Electronics, ChipER, Coship, deView, Eagle Technology, ioimage, FSAN, Lumenera, Pacific Communications, Nuvation, One Security, VTC, Videor Technical, Smartvue, DVTel, Mosaic, Intellicam Digital Security, LJD Digital Security, and Electronics Line USA.

Find all Pixim-enabled cameras at www.pixim.com/cameras

About Pixim:

Pixim Inc. has developed imaging technology and products that revolutionize the way video cameras capture and process images. Pixim's patented Digital Pixel System® (DPS) silicon and software technology produces superior pictures under a wide variety of lighting conditions. For more information or to purchase Pixim's products, visit our website: www.pixim.com or call Pixim's headquarters in Mountain View, California, (650) 605-1107.

About In-Q-Tel:

In-Q-Tel is the strategic investment firm that works to identify, advance, and deliver innovative technology solutions to support the mission of the U.S. Intelligence Community. Launched by the CIA in 1999 as a private, independent, not-for-profit organization, In-Q-Tel's mission is to identify and partner with companies developing cutting-edge technologies that serve the national security interests of the United States. Working from an evolving strategic blueprint defining the Intelligence Community's critical technology needs, In-Q-Tel engages with entrepreneurs, growth companies, researchers, and venture capitalists to deliver technologies that provide superior capabilities for the CIA and the larger Intelligence Community. In-Q-Tel concentrates on several broad commercial technology areas, including application software and analytics; communications and infrastructure; embedded systems and power; and bio, chemical, and nanotechnology. To date, In-Q-Tel has engaged with more than 100 companies and delivered more than 140 technology solutions to the Intelligence Community. To learn more about In-Q-Tel, visit www.in-q-tel.org.

Pixim® and Digital Pixel System® are registered trademarks of Pixim, Inc.

Product or service names mentioned herein are the trademarks of their respective owners.

Contact Information

  • Contact:
    Gloria Reiss
    for Pixim, Inc.
    831-471-0100
    831-234-6100
    Email Contact