Intel Capital has led a $10.5 million in panoramic camera maker Altia Systems.
The second round of funding will help Altia expand its development of its PanaCast Personal Panoramic Video System, which can offer a panoramic high-definition video stream with a wide field of view. The camera is part of a larger PanaCast Experience, complete with cloud and apps.
The system is targeted a video web collaboration in the enterprise, and it allows users to connect via smartphones, tablets, and computers. It has touch-enabled controls that allow all the participants to see what they want to view within the visual field in real-time — and independently of each other.
The camera works with collaboration platforms like Microsoft Lync, Cisco WebEx, Citrix GoToMeeting, and Google Hangouts.
“We are pleased that Intel Capital chose to lead this round,” said Aurangzeb Khan, co-founder and CEO of Cupertino, Calif.-based Altia Systems, in a statement. “Working with Intel Capital will help us further develop the PanaCast Experience and advance the underlying technology roadmap faster and more efficiently, particularly for enterprise customers.”
Intel Capital has invested more than $11 billion in 1,339 companies in 55 countries since 1991. Since then, 206 companies have gone public and 344 were acquired. Last year, Intel Capital invested $333 million in 146 deals. About 49 percent were outside the U.S.
“The way businesses work today has evolved from local to globally-distributed organizations that need to collaborate in real-time to win,” said Ramamurthy Sivakumar, managing director at Intel Capital, in a statement. “The PanaCast Experience enables pervasive collaboration and the PanaCast multi-imager technology, when combined with a highly scalable cloud and apps, has the potential to transform how people engage with each other to work, live, learn and play.”
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