Pelican Imaging Corp. drummed up $10 million in a Series B round.
The financing was led by Globespan Capital Partners with support from Granite Ventures, InterWest Partners and IQT and will fund the commercialization of Pelican’s optical equipment and software, according to the company.
This round funding follows a $7 million Series A equity round that Pelican completed in July 2009, according to a Securities & Exchange Commission filing. The company said Granite Ventures and InterWest Partners participated in that round while IQT provided it with an undisclosed amount earlier this year.
Mountain View, Calif.-based Pelican makes "computational cameras" for the smartphone market, which for them includes the development of both software algorithms and hardware. The company is working to further balance the need for compact design and energy efficiency with the demand for high resolution images in the smartphone market.
More sensitive cameras on mobile devices could mean more effective mHealth applications such as heartrate monitors and remote diagnosis.
