Nethra Imaging, a Cupertino company that makes chips to better process images on mobile phones, raised a $14.2 million in a third round of funding, according to VentureWire.

The product will be made available as early as next year with two unnamed handset manufacturers carrying high-quality mobile phone cameras with 3 megapixel or greater resolution — and is designed to make the photos print-quality. (More details on the technology here).

Nethra Chief Executive Ramesh Singh said the round, closed earlier this month, was led by new investor GunnAllen Venture Partners, and included the participation of new investor iLabs Capital, Hyderabad, India, and existing investors including Artiman Ventures, Alliance Ventures and Annex Ventures…The company has raised a total of $28 million in funding, Singh said.