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Kiwi Semiconductor will develop new analog system-on-chip for advanced CCTV and IP camera solutions |
Kiwi Semiconductor Ltd., a developer of analog semiconductor solutions used in security cameras and emerging applications, announced the completion of a successful capital raising totalling $1.75 million New Zealand Dollars.
The Funding round was lead by Movac Ltd. and included K One W One Limited, NZVIF (Seed Fund) Limited and Lewis Holdings Ltd., lead by David Levene.
"Growing the overall New Zealand technology industry is our goal, and we are pleased to see new companies like Kiwi Semiconductor bring technologies, such as fabless semiconductors, to the New Zealand market. We are putting our capital to good use," stated Mr. David Beard of Movac Ltd.
Kiwi Semiconductor has also received critical support in the form of funding from TechNZ, the Foundation for Research, Science and Technology's business assistance programme.
Richard Bentley, Group Manager of Manufacturing & High-Growth Firms at the Foundation says that TechNZ funding allows leading technology firms such as Kiwi Semiconductor to continue to innovate and to gain the competitive edge in the international marketplace. "Kiwi Semiconductor's commitments to innovation and expertise in using R&D to create products that have given them a competitive advantage have, in turn, benefited New Zealand," Mr Bentley says.
The funding has enabled Kiwi Semiconductor to deliver the world's first single-chip CCTV lens controller |
"Kiwi Semiconductor is extremely pleased to have new backing of proven successful capital firms as well as the continued support of our initial funding partners, K One W One Limited. The support that we received from both Stephen Tindall, as our initial Angel invester and the support of TechNZ has been critical in our first year business," says Luc Lussier, CEO and founder of Kiwi Semiconductor. "The combination of world class venture capital and government sponsored research & development programmes makes New Zealand a great place to build innovation and knowledge based companies. This will contribute to bringing many skilled Kiwis back home from Europe and North America, as well as to the creation of a more diversified economy for New Zealand in years to come."
The funding has enabled Kiwi Semiconductor to deliver the world's first single-chip CCTV lens controller, as well as our new chip KA310, which is used to detect ambient light levels for smarter image exposure control in advanced CCTV cameras.
