Israeli startup Corephotonics, which is developing dual camera technologies for smartphones, has raised $15 million in a new round. This brings the total raised by the Tel Aviv based company to more than $50 million. Investors in the current round include Samsung Ventures, iPhone manufacturer Foxconn and chipmaker MediaTek.
The investment will be used to develop next generation cameras for smartphones, and to expand the reach of existing products. The funding will also help Corephotonics expand into the automotive, drone, surveillance, and action camera markets.
Read more: Reuters