TMCnet News
IC Media Closes Series D FundingSANTA CLARA, Calif. --(Business Wire)-- Dec. 28, 2004 -- IC Media Corporation, a leading developer of CMOS image sensors, today announced that it has closed its Series D financing round of $12 million. The funding was led by UMC Capital. "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." "UMC Capital is pleased to lead this round of financing and to continue its investment in IC Media," said D.C. Cheng, President of UMC Capital. "The company's performance is reflected by the multiple design wins with more than 25 customers and exemplified by the launch of their EmeraldPixel(TM) product family. We are confident that IC Media will continue its strong business performance in the future." 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. About IC Media IC Media is an established volume supplier of leading high resolution CMOS image sensors for cell phones, digital still cameras, PC cameras, and other mobile imaging applications. Today, IC Media ships VGA, 1.3Mp, 2Mp and 3Mp CMOS image sensors. The Company's EmeraldPixel(TM) image sensors are optimized for small form factor devices like cell phones and PC cameras. They offer an industry-leading wide acceptance angle and excellent low light sensitivity. The privately-held company was founded in 1998. The Company has headquarters in Santa Clara, California, and offices in Arizona, Taiwan, China and Japan. For more information on The Company and its products, please visit the IC Media website at www.IC-Media.com. |
