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EPOS Technologies Secures $10.5 Million in Financing
EPOS, a provider of advanced digital positioning technology, has announced that it has secured $10.5 million in funding. The round was led by Intel Capital and Walden Israel, along with participation by JVP and additional investors.
"We are pleased to bring together a strong funding consortium comprised of prominent venture capitalists such as Intel Capital, Walden Israel and JVP,” said Oded Turbahn, CEO of EPOS. "Their participation strengthens our vision of positioning-enabled products within a wide range of markets," Oded said.
"EPOS’ digitization of the acoustic signal allows for positioning solutions that are low-cost and low-power without sacrificing high resolution,” said Steve Gray, Senior Investment Manager of Intel Capital Israel. “These are characteristics of digital positioning that could finally pave the way to broad consumer acceptance in a wide variety of applications,” Steve said.
“The EPOS platform was particularly attractive to Walden Israel as it is easily integrated into a wide range of products for a diverse number of markets,” explained Noga Kap, General Partner at Walden Israel. “We look forward to seeing EPOS' positioning technology quickly making its mark - initially within the consumer electronics arena, particularly with products such as digital pens and accessories, touch screens for notebooks and interactive whiteboards, with future products already planned to include LASIK surgery and wireless gaming peripherals," Noga said.
Gadi Tirosh, Venture Partner at JVP commented: "We are pleased to join forces with Intel and Walden Israel and look forward to seeing the company continue to grow as it moves into this next important phase."
EPOS will use the funds from this financing round to continue research and development, expand global marketing activities, and launch future EPOS-enabled products via its partners.