Thermal imaging sensors developer Meridian Innovation raised $12.5 M to scale operations
The developer of thermal imaging sensors in Singapore, Meridian Innovation Pte Ltd, has announced that it has raised $12.5 million in a funding round headed by new investors and including participation from existing investors.
Meridian Innovation said in a statement on Monday that it will be able to grow operations, accelerate product development, and reach new consumer and commercial markets with the help of this funding.
Meridian Innovation has invested more than $30 million in total as of this round.
“We are thrilled to have Moveon, TCVC and Hong Kong Science and Technology Parks Corporation as new investors,
“This funding marks a significant milestone in our journey to become the leading provider of Complementary Metal-Oxide-Semiconductor (CMOS)-based thermal imaging technology,” said Hock Leow, Chief Executive Officer and Co-Founder of Meridian Innovation.
He stated that the company is ready to expand manufacturing, introduce cutting-edge solutions to the market, and open up new avenues for consumer and business applications with the help of its investors and strategic partners.
He mentioned that thermal imaging is now more accessible than ever thanks to the company’s CMOS-based approach, which gives them a distinct advantage in producing affordable thermal imaging sensors at scale.
“We are committed to constant innovation and, with this new investment, we are accelerating our product development,
“We will be shipping our second-generation higher resolution, 160×120, sensor in the fourth quarter of 2024,” he added.
Meridian Innovation is a company that is redefining thermal imaging through its proprietary technology that is based on Complementary Metal Oxide Semiconductor (CMOS).
Its CMOS platform ensures a substantially lower manufacturing cost while maintaining the highest levels of performance for the consumer and commercial markets, in contrast to traditional thermal sensors, which rely on more expensive materials and production methods.
The company has supplied products to a wide range of clients in a variety of market categories over the last few years, including smart appliances, internet of things (IoT) devices, in-cabin car monitoring, security and safety items, baby monitoring and senior care assisted by artificial intelligence (AI), and portable thermography equipment.
Meridian stated that the company is in a unique position to take advantage of and meet the needs of these expanding market segments, all of which are embracing inexpensive thermal imaging sensors at a rapid pace.
The company observed that the low power consumption and more affordable mass-manufacturable CMOS process of its patented CMOS thermal imaging sensors are drawing in investors and customers.
