Company's revolutionary software enables simple creation of 3D pictures for advertising and packaging
Jerusalem, Israel - August 16, 2002 - HumanEyes Technologies Ltd., a leading developer of software for the creation of 3D pictures using standard digital printing equipment, announced today that it has raised $5 million in its first institutional financing round. Participants in this round include BRM Capital, Docor International (Van Leer Group) and Benny Landa (founder of Indigo). In 2001 HumanEyes raised $1,000,000 from private investors and from Kadima High Tech managed by Yossi Ben-Yosef. Mr. Gideon Ben-Zvi the founder of Ligature and co-founder of Wizcom is the President and CEO and Mr. Yoav Chelouche the former CEO of Scitex is the Chairman of the board.
Nir Barkat, Managing Partner at BRM Capital noted, "We believe that the image processing technology developed by HumanEyes is a major breakthrough for the world of photography. HumanEyes has developed technology that targets the existing advertising market and enables more sophisticated and impressive advertising solutions. HumanEyes' solution further leverages the advantages of the digital camera over the film camera by bringing a new dimension to photography. We are delighted to have found a Jerusalem based company built on a frontier technology out of the Hebrew University."
HumanEyes 3D adverts attract more attention by achieving a greater impact per picture. The numerous applications for this technology, from outdoor advertising in airports, bus stations and malls etc. to Point of Sale placements, vending machines and packaging of consumer goods make this an exciting offering to the advertising market. HumanEyes Technologies Ltd., has already signed contracts with a number of leading advertising agencies and printing bureaus. The major international media group, Publicis Technology, has already started to work with HumanEyes and intends to use the technology for approximately 300 signs to be placed in the French Metro. The Coca Cola Company in Chile performed a pilot study, placing HumanEyes 3D signs on the front of some of their vending machines, reports indicate that sales at those machines increased substantially.
"Docor has a legacy of investing in unique technologies that have the potential to revolutionize their target markets," added Dr Alon Dumanis, CEO of Docor, former Head of "The Material Command" in the Israeli Air Force with the rank of Brigadier General who along with Michael Schlesinger has coordinated the investment with Docor.
HumanEyes Technologies Ltd. CEO Gideon Ben-Zvi added, "HumanEyes' management is excited by the new partnership with leading investors such as BRM Capital, Docor and Benny Landa. We believe that our new partners will help us to penetrate our "Impactio" software into our target markets." Ben-Zvi added: "We hope that this financing round will help us give color photography the kind of "shove" that color photography gave to black and white."
Benny Landa, founder of Indigo, commenting on HumanEyes technology, stated: "The ability of HumanEyes to capture and process 3D images using standard digital cameras and then print 3D images on ordinary home printers has the potential to bring the excitement of 3D imaging to the consumer market."
About HumanEyes Technologies Ltd.
HumanEyes Technologies Ltd. has developed software that enables the creation of stereo panoramic 3D pictures of up to 360o. Using mathematical algorithms developed at the Hebrew University, the software bypasses optical limitations that have existed for over 90 years and enables users to create 3D pictures. Adverts created using the technology have a dramatically increased impact on the viewer. Founded by Professor Peleg, a world renowned figure in Image Processing, two of his students at the Hebrew University: Dr. Moshe Ben-Ezra and Ms. Yael Pritch, the entrepreneur Gideon Ben-Zvi and Yissum Research and Development Company of the Hebrew University. HumanEyes Technologies Ltd. is headquartered in Jerusalem, Israel with a subsidiary based in New York. Prior to co-founding HumanEyes, Ben-Zvi founded and sold Ligature and co-founded Wizcom which he helped take public. Yoav Chelouche, former CEO of Scitex serves as Chairman of the Board of Directors.
BRM Capital is a venture capital fund which focuses on early stage through expansion investments in firms in the filed of software and communications. The firm concentrates its investment activities on companies that are Israeli related. Its executive offices are located in New Jersey with representatives in Israel. The companies in which BRM has invested include Check Point (Nasdaq: CHKP), Back Web (Nasdaq:BWEB), ProSight, PeopleLink, Kamoon, NetOnCourse, Whale, Percite, Action Base, Schema, Eventra et al. The assets managed by BRM now total about $250 million.
Docor International is part of the Van Leer Foundation and acts as the business organization of the Van Leer Foundation, investing in Israeli High-Tech start-up and early stage companies. Its executive offices are based in Rehovot, Israel.