Mantis Vision Raises $55 Million in Series D Funding, Announces Joint Venture with Luenmei Quantum Co. Ltd.
Mantis Vision’s Series D Financing Led by Luenmei Quantum Co. Ltd. and Samsung Catalyst Fund
Mantis Vision, a leading provider of advanced 3D sensing, volumetric content acquisition and sharing technologies, announced the closing of its Series D round of $55 million with a total investment of $83 million to date. New funds will serve to extend the company’s technological edge, accelerate Mantis Vision’s go-to-market strategy, expand its international workforce and support external growth opportunities. The Series D investment was led by Luenmei Quantum Co. Ltd., a new investor in Mantis Vision, and Samsung Catalyst Fund, an existing shareholder of the company. Mantis Vision and Luenmei Quantum Co. also announced the formation of a new joint venture, “MantisVision Technologies”, to further strengthen Mantis Vision’s position and growth in the Greater China Market.
Founded and headquartered in Israel, Mantis Vision offers advanced 3D content capture and sharing technologies for a wide array of applications – from 3D cameras for smartphones, industrial/professional grade 3D camera/scanners, and up to a live 3D Volumetric studio. Under this new round of funding, Mantis Vision will be able to extend its R&D efforts by advancing today’s state of conventional 3D technology to new heights with its 3D sensing technology.
The creation of “MantisVision Technologies” will strengthen Mantis Vision’s position in the Greater Chinese market. With operating offices in Beijing and Shanghai, the JV will further support the introduction of Mantis Vision’s products and technology and provide localization, local sales and support functions in the region.
Mantis Vision is planning to double its global workforce with an additional 140 employees in Israel, US, China and Slovak Republic by the end of 2020. As part of the latest series funding, Mantis Vision will expand its pool of talent engineers for advanced R&D algorithmic research in computer vision and deep learning, advanced optics experts, mobile camera engineers, 3D apps developers and 3D Volumetric studio experts amongst other open positions in program management and business development. Opportunities for global scale are already underway with Mantis Vision and smartphone maker Xiaomi’s latest partnership to implement Mantis Vision’s 3D camera technology in recently announced Xiaomi’s new premium flagship smartphone, the Mi8.
According to Mr. So Chong Keung, Luenmei Quantum Co. Ltd. President and GM: “Luenmei Quantum is closely following the Israeli high-tech industry, which creates outstanding technology. Mantis Vision’s versatile and advanced 3D technologies is well positioned and suited for mobile, secure face ID applications and entertainment industries in China. We found that Mantis Vision is the right match for Luenmei Quantum, combining hi-tech, innovation and passion.”
According to David Goldschmidt, VP and Managing Director of Samsung Catalyst Fund: “We humans sense the world in rich 3D. However, current camera technology is 2D, limiting the ways we communicate and create content. It also limits capabilities of machines to do more for us. Mantis Vision is leading the way toward 3D sensor tech that is small in form factor and low-cost enough to be widely deployed in devices of all kinds. In the future, high-resolution 3D imaging will make for everything from smarter vacuums and safer vehicles, and everyday consumers will become 3D content creators. The possibilities are practically limitless.”
According to Gur Arie Bitan, Founder and CEO of Mantis Vision: “This latest announcement is another proof of Mantis Vision’s meteoric advancements in this recent period, technologically and business-wise. We regard our continued partnership with Samsung Catalyst Fund and Luenmei Quantum Co. as a strategic partnership and thanks to our new joint venture, we will be able to further strengthen our grip in the Greater Chinese market.”