Israeli 3D content imaging startup Mantis Vision today announced the closing of a $55 million Series D financing round led by Chinese company Luenmei Quantum, a new investor, and Samsung Catalyst Fund, an existing shareholder of the company.
The company has raised $84 million to date including the latest financing round. It expects to double its workforce by the end of 2020 with an additional 140 employees.
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Mantis and Luenmei Quantum also announced the formation of Mantis Technologies, a joint venture to strengthen Mantis Vision’s growth in China.
With operating offices in Beijing and Shanghai, the joint venture will support Mantis Vision’s products and technology and provide local sales and support functions in Asia.
The company’s mobile 3D technology is being used by Google for its 3D-sensing Project Tango smartphone. The company’s advanced 3D content capture and sharing technologies use is a wide application – from 3D cameras for smartphones, industrial, professional 3D camera, scanners, and up to a live 3D Volumetric studio.
Under this new round of funding, Mantis Vision will be able to extend its R&D efforts by advancing today’s state of conventional 3D technology to new heights with its 3D sensing technology.
Mantis Vision founder and CEO Gur Arie Bitan said, “This latest announcement is another proof of Mantis Vision’s meteoric advancements in this recent period, technologically and business-wise. We regard our continued partnership with Samsung Catalyst Fund and Luenmei Quantum Co. as a strategic partnership and thanks to our new joint venture, we will be able to further strengthen our grip in the Greater Chinese market.”
