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Advasense Secures $6 Million Series B Financing

Thursday, November 29, 2007 5:45:00 AM PDT | VentureDeal Staff

RA'ANANA, ISRAEL -- Component maker Advasense Inc. said that it has raised a new round of venture capital, collecting $6 million from a syndicate of venture investment firms.

The company is developing next-generation multi-megapixel CMOS image sensors for cell phones, which they hope will enable phones to have the same image quality as stand-alone digital cameras.

Investors were CIDC, Genesis Partners, VentureTech Alliance, Giza Capital and BlueRun Ventures.

The company said it expects to use the funding proceeds for further product development and marketing.

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