Samsung is reportedly eyeing Tel Aviv University-founded smartphone camera technology developer Corephotonics for $150m to $160m after backing its series B and C rounds.

Consumer electronics producer Samsung is in advanced discussions over a $150m to $160m acquisition of Corephotonics, an Israel-based smartphone camera technology provider based on Tel Aviv University research, Globes has reported. Founded in 2012, Corephotonics has devised a dual camera technology for smartphones that provides superior picture quality and professional-grade features. The company’s offering includes software applications designed to handle low-level lighting and optical zoom in both photography and video. Corephotonics is led by CEO David Mendlovic, a professor of electrical engineering in the Iby and Aladar Fleischman Faculty of Engineering. To date, the business has attracted more than $50m in funding. Samsung is an existing investor, having backed Corephotonics’ $15m series C round in 2017 alongside manufacturing services provider Foxconn, mobile semiconductor supplier Mediatek and an unnamed smartphone original equipment manufacturer. The series C was co-led by investment firm Mizmaa Ventures and private equity firm Beijing Singularity Power Investment Management. Corephotonics had previously secured $17.8m in a 2015 series B round backed by telecom firm SK Telecom together with Samsung Ventures, SanDisk Ventures and Western Digital Capital, respective subsidiaries of Samsung, flash memory storage producer SanDisk and hard disk maker Western Digital. Amiti Ventures, Magma Venture Partners, Horizon Ventures and BetaAngels Partners co-led the series B, which also featured LSG Industrials, OurCrowd, CE Ventures, iVentures Asia and Radiant Venture Capital. CE Ventures is a venture capital fund strategically affiliated to online lending platform CreditEase. Telecoms equipment supplier CK Telecom has also been named as one of Corephotonics’ earlier investors. – Feature image courtesy of Corephotonics

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