XenICs gains new funding

June 18, 2003 – Leuven, Belgium – XenICs, a European supplier of infrared image sensors, announced it has raised 1.5 million euros (about $1.75 million) in a second round of funding. The company will use the funds to expand its international presence, including establishing partnerships and building a its sales network.

Investors include XenICs’ current shareholders and staff, Fortis Private Equity, IMEC, Software Holding & Finance, and a group of business angels.

XenICs specializes in infrared image sensors based on III-V InGaAs technology, which can be used in industries where visible light is not a viable option.

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