Tuesday, September 28, 2010

GEO Semiconductor Gets $2M In Venture Debt, Equity

Santa Clara-based GEO Semiconductor, a developer of semiconductors used for pixel processing for LCD displays and smartphone cameras, said today that it has raised $2M in a combination of venture debt and equity. The venture debt was led by Montage Capital, and also included Harris & Harris Group. The equity funding came from the firm's existing investors. According to GEO, the funding will go towards supporting design wins in applications for LED backlighting for LCD flat panel displays, smartphone cameras, video conferencing, and other products. The firm's ICs are used for correcting for LCD display color and brightness uniformity, correcting optical issues in cameras, and more. Harris & Harris, a venture capital investor, said this is its first venture debt financing effort, and that it contributed $500,000 towards the effort.