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Lumus, Developer of Revolutionary Personal Displays, Secures Second Round Financing
Motorola Ventures Led the Round, with Co-Investment from Jerusalem Global Ventures REHOVOT, Israel, - 24 January 2005 - Lumus Ltd. today announced closure of a Series B financing round. Motorola Ventures, the venture capital arm of Motorola Inc. (NYSE: MOT) led the investment, joined by Jerusalem Global Ventures. Lumus Ltd. (www.lumusvision.com) has developed a revolutionary light-guide optical element (LOE) that enables very compact, personal displays in various configurations. Based on an invention by Dr. Yaakov Amitai, Co-Founder and CTO of Lumus, the LOE facilitates mobile wearable, near-to-eye displays; hand-held screens suitable for a pocket PC or a mobile phone; as well as full performance head-up displays. The former two configurations address the growing need for high-quality, ultra-compact displays for mobile and portable applications. The latter provides for breakthrough solutions for automotive and aerospace applications. "Lumus faces exciting challenges in the emerging fields of near-to-eye and other personal display configurations, with applications in several important markets," noted Dr. Rami Aharoni, Co-Founder and CEO of Lumus. "We believe that the company's unique technology and its strong patent portfolio provide a sound base for a range of breakthrough products." Lumus' management team comprises Zvi Lapidot, Chairman of the Board, Dr. Rami Aharoni, CEO, and Dr. Yaakov Amitai, CTO. About Motorola Motorola is a Fortune 100 global communications leader that provides seamless mobility products and solutions across broadband, embedded systems and wireless networks. In your home, auto, workplace, and all spaces in between, seamless mobility means you can reach the people, things and information you need, anywhere, anytime. Seamless mobility harnesses the power of technology convergence and enables smarter, faster, cost-effective and flexible communication. Motorola had sales of US$31.3 billion in 2004. For more information: www.motorola.com. Motorola Ventures (MV) is the global, strategic venture capital investment arm of Motorola, Inc. MV actively invests at all stages in developing companies of strategic value to Motorola in order to accelerate access to new technologies, new markets and new talent. For more information: www.motorola.com/ventures. About Jerusalem Global Ventures Jerusalem Global Ventures is an Israeli venture capital fund that invests in seed and early stage communications, information technology and life sciences companies. JGV has over $120 million in capital for investment in exceptional entrepreneurs. Its investors include many of the world's leading technology companies and financial institutions as well as international executive investors. JGV investors include: Agilent Technologies, Time Warner (AOL), Bank of America, China Development Industrial Bank, Bausch & Lomb, Comverse, Conexant, Itochu Techno-Science, JDA Uniphase, Motorola and Telecom Italia Lab. Back to Press Releases |
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