Infrared sensor company secures $4m investment for global expansion
Published: 27 November 2013 - Rachael Morling
Pyreos, a provider of ultra-low power consumption infrared sensor technology for consumer, industrial and environmental sensor products, has announced plans for international expansion having secured a further funding round of $4m.
The investment was led by Robert Bosch Venture Capital, Seraphim Capital, Siemens Technology Accelerator and the Scottish Investment Bank (SIB), the investment arm of Scottish Enterprise.
Pyreos’ ultra-low power consumption infrared sensors are making strong inroads into the global smartphone and tablet markets. Its recently launched gesture and proximity sensor products use just micro-watts of power. This can enable advanced features like ‘always-on’ gesture which has opened a myriad of applications to app developers for mobile devices.
In addition, the sensor enables applications such as long range gesture, presence detection and wake-up functions for other consumer markets including PC, TV, docking stations, tablet devices and smart energy.
Claus Schmidt, managing director of Robert Bosch Venture Capital commented: “We are excited to support Pyreos to exploit existing and future licensing opportunities. Reducing power consumption by the magnitude achieved by Pyreos creates massive potential in mobile and handheld applications across both consumer and industrial markets.
The new investment will fund growth in the team to enlarge its already established international customer base.”