Extreme Reality Ltd. has raised $10 million in its fourth financing round. Half of the sum was raised from Marker LLC of the US, and the other half came from a strategic investor in the consumer electronics industry, whose identity has not been disclosed. However, the company reportedly uses Extreme Reality's 3D motion analysis technology in products for the security and household markets. The products will reach the market in 2014.
Extreme Reality's technology enables computer manufacturers to integrate motion in the regular 2D cameras that are already embedded in computers, eliminating the need for customers to buy expensive 3D cameras for gesture recognition. A year ago, the company announced that Samsung Electronics Co. Ltd. (KSX: 5930; LSE: SMSN) would use the technology in its computers. Samsung already has hand gesture recognition in its All-in-One computers, which are available in Israel. These computers do not require use of a mouse or keyboard to give commands.
Extreme Reality is in the same business as PrimeSense Ltd., which Apple Inc. (Nasdaq: AAPL) acquired for $350 million earlier this week. Intel Corporation (Nasdaq: INTC), which considers gesture recognition as a strategic sector, has acquired two Israeli companies in the field Omek Interactive Ltd. and InVision Biometrics Ltd; and Ceva Inc. (Nasdaq:CEVA); LSE:CVA) has acquired eyeSight Ltd.
Research companies estimate that the gesture recognition market will quadruple to $4 billion in 2017 from 2013, and that the proportion of revenue in the market from consoles will fall to 35% from 80%.
Extreme Reality, founded in 2005, has 35 employees at its offices in Herzliya Pituah. In January 2013, it appointed Sarit Firon as CEO.
Published by Globes [online], Israel business news - www.globes-online.com - on November 26, 2013
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