IC Media Corporation, who makes CMOS image sensors that go in many digital cameras, announced today it has closed its Series D financing round of $12 million.
"The participation of so many existing investors is a tribute to the strength of our product and the strength of the image sensor market," commented Richard Char, President and CEO of IC Media. "Our existing shareholders fully subscribed the round and we were able to close it very quickly at a strong valuation. We believe the funding raised in this round should sustain us through profitability."
IC Media will use the proceeds to finance its working capital requirements, particularly in connection with the ramp of the EmeraldPixel(TM) family of products and the expansion of research and development activities.
