Existing investors Mayfield Fund, Ridgewood Capital and Tallwood Venture Capital, boost Pixim's working capital to accelerate the company's growth
Pixim Inc., a provider of image sensors and processors for enterprise security cameras, announced this week that it closed $13 million in additional venture capital funding from existing investors Mayfield Fund, Ridgewood Capital and Tallwood Venture Capital.
Pixim intends to use the additional working capital to accelerate its growth in worldwide markets and add further market share gains. The company is investing in new product development, expanding its channel marketing programs and broadening its sales reach.
"In this current economic climate, announcing any kind of new venture capital funding represents a noteworthy event," said Chris Adams, CEO, Pixim. "This tangible vote of confidence from our existing investors can be attributed to Pixim's continued growth and success, even within an overall down market, and with widespread recognition of the advantages that Pixim's Digital Pixel System technology offers for video security."
Pixim's Digital Pixel System® image capture and processing technology works in all lighting conditions, making it the most versatile solution for numerous applications, including financial, retail, industrial, gaming, airport, port, bus and rail security, the company said. Today, Pixim's chips are designed into more than 300 camera models that ship to more than 90 countries worldwide.