On the cusp of launching its first chipset and software products next month, Israeli user interface technology developer Prime Sense is expected to announce on Tuesday, May 6, that it has closed a $20.4 million round in venture capital to support production and marketing.
The three-year-old Tel Aviv-based company landed Canaan Partners as lead investor in the round, joined by Gemini Israel Funds and Genesis Partners, all of Herzliya, Israel, to bring total funding in the company to $29.4 million. The company has developed three-dimensional imaging technology to allow third-party developers of gaming systems and other applications to design new user interfaces.
Prime Sense CEO Inon Beracha said the company introduced a prototype product and developers' kit early in 2007 and already is generating revenues in advance of chip shipments that will begin next month.
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