Communications technology provider Nokia and semiconductor maker Intel have exited US-based fabless semiconductor producer InVisage Technologies following its acquisition by electronics producer Apple, TechCrunch has reported.
Property developer and financing company China Oceanwide and OnPoint Technologies, the strategic investment vehicle for the US Army, were also among InVisage’s investors. Apple has confirmed the deal to TechCrunch but terms were not disclosed.
Founded in 2006, InVisage has developed QuantumFilm imaging technology that uses software and material science to improve the quality of pictures taken in non-optimal lighting conditions. It can be used in augmented and virtual reality technologies as well as internet-of-things applications.
InVisage had raised more than $130m in funding, most recently closing a $32.5m series F round in 2014 with backing from Intel, China Oceanwide and Nokia through respective subsidiaries Intel Capital, China Oceanwide USA Holdings and Nokia Growth Partners (NGP).
Venture capital firms GGV Capital, InterWest Partners and RockPort Capital also took part in the series E round. Intel Capital and NGP had contributed to an $18m series E round earlier in 2014 that included OnPoint, GGV, RockPort and InterWest, and a $27.5m series D in 2013.
InVisage also raised an undisclosed amount in a 2011 series C round backed by Intel Capital, RockPort Capital, InterWest Partners, OnPoint Technologies and Charles River Ventures.