AUSTIN, Texas, Aug. 31, 2015 /PRNewswire/ -- Almalence Inc., one of the world's leaders in computational imaging, announces today that it has received an investment from Intel Capital, Intel's global investment organization. The funds will be used by Almalence to develop the next generation of mobile imaging technology enabling mobile cameras to achieve the image quality level of DSLR cameras.
Intel and Almalence have also entered into a strategic collaboration, which will allow Intel to bring the benefits of Almalence's imaging technology to Intel's architecture.
Almalence develops computational photography technologies that significantly improve the image quality of photos and videos in mobile devices. The algorithm software can be implemented on either the device's processor, or ported directly to the image processor for best performance. It is licensed directly to OEM customers. The company was founded in 2005 by Russian engineers Dmitry Shmunk and Eugene Panich, and has a track record of working with global mobile device manufacturers. Almalence's R&D activity is concentrated in Novosibirsk, Russia.
Eugene Panich, CEO, Almalence Inc. said:
"We are proud to have Intel Capital's backing as we expand our relationships with customers and develop groundbreaking technologies."
"Working with Intel will help us to enter a new stage in product development as we take the image quality of mobile cameras to new heights."
Arjun Kapur, Intel Corp Vice President, Platform Engineering Group, and General Manager, Imaging and Camera Technologies Group, said:
"Intel's world-class imaging architecture provides the flexibility and throughput required by leading-edge computational imaging applications."
"We look forward to working with Almalence to deliver such capabilities to the Intel mobile ecosystem."
Marcin Hejka, Intel Capital Vice President and Managing Director, Eastern Europe, Middle East and Africa region, said:
"The ability to shoot high-quality images on mobile devices is extremely important to consumers. We are delighted to be working with Almalence on next generation imaging technologies to further improve the consumer experience."
Almalence is the global leader in computational imaging technologies, used in a wide range of optical systems, from high-end DSLR cameras to mobile phones. Almalence's solutions are licensed by top smartphone OEMs and shipping on more than 30M high-end devices annually. Almalence, Inc. is a privately owned company with headquarters in Austin, Texas and the team distributed across the world - USA, Russia, Israel, China and South Korea. For more information on Almalence technologies, visit www.almalence.com
About Intel Capital
Intel Capital, Intel's global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, consumer Internet, digital media and semiconductor manufacturing. Since 1991, Intel Capital has invested nearly US$11.6 billion in over 1,440 companies in 57 countries. In that timeframe, 213 portfolio companies have gone public on various exchanges around the world and 373 were acquired or participated in a merger. In the first half of 2015, Intel Capital invested $134 million in 63 deals, including 29 new portfolio companies, and saw 10 exits. For more information on what makes Intel Capital one of the world's most powerful venture capital firms, visit www.intelcapital.com or follow @Intelcapital.