ORCAM raises USD 41m and strives for IPO
We are happy to announce that OrCam has closed a USD 41m financing round valuing the company at USD 600m – btov was once again a contributing party to this round. The Israeli company has developed a computer vision device that includes a miniature video camera and processing unit that can be attached for instance to eyeglasses. OrCam has raised USD 63m up to now and expects to carry out an IPO on the NYSE or Nasdaq by the end of next year. After the two products MyEye and MyReader, Orcam focuses now on MyMe which can be worn on a shirt, providing the user with comprehensive information, for instance about the food the consumer is currently consuming. Recently, founders Shashua and Aviram sold their former venture Mobileye as part of a USD 15bn deal to Intel – a major record exit in Israeli startup sphere. Read more.