Friday, February 27, 2015

Lytro Lands $50M, But Chops Staff

Mountain View-based Lytro, the developer of camera technology which allows users to refocus pictures, even after they have been taken, has raised $50M in a new funding round---but also severely cut back its staff. The funding came from GSV CApital, along with Allen & Co., Danhua Capital, and the company's other investors. Lytro told Re/Code that it is cutting between 25 and 50 people out of 130 people at the company. The new round brings its total raised to $140M. More information »