Announcing the unfolding of light® Technology, Lumenuity secures $1.2 million in the field of start-up financing to significantly improve optical zoom performance, cost and capabilities
LOS ANGELES, October 21, 2024 /PRNewswire/ — Lumenuity today announced the official launch of a revolutionary optical technology that significantly improves the zoom capabilities of smartphone cameras. The company also unveiled a $1.2 million seed funding round and partnering with Qualcomm Technologies, Inc. to optimize Lumenuity technologies for use on smartphones running the latest Snapdragon mobile platforms. The groundbreaking technology has widespread applications beyond smartphones, including drones, augmented reality (AR) and more.
The light of Lumenuity unfolds® technology delivers DSLR camera performance in a pocket-sized mobile device. These advancements provide users with professional zoom quality without the cost or weight of traditional cameras, revolutionizing mobile photography.
Co-founded by Dr. Benjamin Shapiro and dr. Edo Waks, experts in optics, electrical engineering and quantum, Lumenuity has spent years refining and developing this new optical solution. The team is supported by a prestigious advisory board with decades of leadership in leading smartphone and AR companies.
“Our patented Light Unfolding technology compresses unprecedented optical power into compact devices,” said Dr. Benjamin Shapiroco-founder and CEO of Lumenuity. “This innovation allows consumers to capture stunning, high-quality images from their smartphones, virtually eliminating the need for bulky, high-quality cameras.”
In addition to improving image performance, Lumenuity’s technology provides significant production benefits by reducing the need for multiple cameras in devices. Currently, smartphones rely on separate cameras for primary, wide-angle and zoom functions. Lumenuity’s optical system can deliver the performance of two cameras in one, streamlining design and reducing production costs; savings that can be passed on directly to the consumer.
“Lumenuity’s technology enables higher performance optics in a more efficient form factor,” said Judd HopeVice President, Product Management at Qualcomm. “Qualcomm will be able to support phone makers who will implement this new technology on the Snapdragon platform, providing free advanced image processing and AI features to further improve image quality.”
Lumenuity has already developed prototypes that offer double the zoom power of existing smartphone cameras, all while maintaining industry-standard size and shape. The company has worked closely with Qualcomm, a leader in the smartphone industry, and with DXOMARK, leaders in assessing phone camera image quality, to refine and validate their technology.
“Given the company’s unique technology approach, robust IP portfolio and compelling project roadmap, we are excited to invest in the Lumenuity team,” said Michael BierInvestment partner at Vest Coast Capital. “The company is well positioned to significantly improve camera performance while lowering phone costs.”
About Lumenity:
Lumenuity is an advanced optics company delivering breakthrough technology for improved optical performance in compact systems. Our light is unfolding® technology unlocks new imaging possibilities. We offer tailor-made solutions, tailored to the needs of our partners. Learn more at www.LumenuityInc.com.
Founders:
Benjamin ShapiroPhD: Founder and CEO. Served in C-suite roles for 3 deep-tech companies. Was professor of technology at the University of Amsterdam for 18 years University of Maryland at College Park. Fulbright scholar. On LinkedIn: https://www.linkedin.com/in/benjamin-shapiro-834ab28b/
Edo WaksPhD: Co-founder. Professor of Electrical and Computer Engineering, Quantum Institute, University of Maryland at College Park. Expert in optics, light and quantum mechanics. PECASE (Presidential Early Career Award). Fellow APS (Applied Physics Society), OSA (Optical Society of America). On LinkedIn: https://www.linkedin.com/in/edo-waks-3635173b/
About Qualcomm:
Qualcomm is a trademark or registered trademark of Qualcomm Incorporated. Qualcomm branded products are products of Qualcomm Technologies, Inc. and/or its subsidiaries.
SOURCE Lumenuity, Inc.
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