SMaL Camera raises big bucks
CAMBRIDGE, Mass. - Imaging solutions developer SMaL Camera Technologies has secured $13.5 million in funding, with The Carlyle Group as the lead investor in the Series C round of financing.
The cash infusion is expected to help SMaL Camera improve the capabilities of its security cameras to incorporate smart camera technology that will prompt the camera to transmit video when it detects motion. Company officials also plan to use the funds to promote its product.
According to Maurizio Arienzo, president and chief executive officer of SMaL Camera, the company has signed agreements with several camera manufacturers to incorporate the companyÃ¢â‚¬â„¢s Autobrite technology in their cameras. The technology enables better picture quality in video, even in various light situations.
Arienzo was unable to provide the names of the camera manufacturers who plan to use his companyÃ¢â‚¬â„¢s technology, but said details would be disclosed later this year.
Besides using the funds to invest in its security camera business, money will also go towards product development for the companyÃ¢â‚¬â„¢s credit-card thin digital camera and an automotive camera it makes. Already SMaL Camera sells its digital camera to retailers such as Radio Shack and Fuji. On the automotive side, car manufacturers are looking to incorporate the companyÃ¢â‚¬â„¢s cameras in vehicles to help drive a car.
SMaL CameraÃ¢â‚¬â„¢s last financing took place two years ago, when it raised $8 million through a venture partnership. Arienzo expects the recent round of funding will be the last one sought for the company.