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The
latest round brings total fundraising to more than $50 million.
Corephotonics' other investors include Magma VC, Amiti Ventures,
Chinese billionaire Li Ka-shing and Solina Chau's Horizon
Ventures, OurCrowd – the equity crowdfunding firm, flash storage
solutions company SanDisk and Chinese telephony services
provider CK Telecom.
The investment, along with the existing cash on hand and revenue
forecast for 2017, will be used for developing next generation
cameras for smartphones, and for expanding existing products'
penetration. It will also help Corephotonics expand into the
automotive, drone, surveillance, and action camera markets, the
company said.
(Reporting by Steven Scheer)
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