Announcing Light Unfolding® Technology, Lumenuity Secures $1.2M in Seed Funding to Significantly Enhance Optical Zoom Performance, Cost and Capability
LOS ANGELES, Oct. 21, 2024 - Lumenuity today announced its official launch with a revolutionary optical technology that significantly enhances the zoom capabilities of smartphone cameras. The company also unveiled a $1.2 million seed funding round, and are collaborating with Qualcomm Technologies, Inc. to optimize the Lumenuity technologies for use on smartphones that contain the latest Snapdragon mobile platforms. The breakthrough technology offers widespread applications beyond smartphones, including drones, augmented reality (AR), and more.
Lumenuity's Light Unfolding® technology delivers DSLR camera performance in a pocket-sized mobile device. This advancement delivers users professional zoom quality without the cost or weight of traditional cameras, revolutionizing mobile photography.
Co-founded by Dr. Benjamin Shapiro and Dr. Edo Waks, experts in optics, electrical engineering and quantum, Lumenuity has spent years refining and developing this new optical solution. The team is supported by a prestigious advisory board with decades of leadership in top-tier smartphone and AR companies.
"Our patented Light Unfolding technology compresses unprecedented optical power into compact devices," said Dr. Benjamin Shapiro, co-founder and CEO of Lumenuity. "With this innovation, consumers can capture stunning, high-quality images from their smartphones—virtually eliminating the need for bulky, high-end cameras."
In addition to enhancing image performance, Lumenuity's technology offers significant manufacturing advantages by reducing the need for multiple cameras in devices. Currently, smartphones rely on separate cameras for primary, wide-angle, and zoom functions. Lumenuity's optical system can deliver the performance of two cameras in one, streamlining design and reducing production costs—savings that can be passed directly to consumers.
"Lumenuity's technology allows higher-performance optics in a more efficient form factor," said Judd Heape, Vice President, Product Management at Qualcomm. "Qualcomm will be able to support phone makers that will be implementing this new technology on the Snapdragon platform, by providing complimentary advanced image processing and AI features to further increase image quality."
Lumenuity has already developed prototypes that deliver double the zoom capability of existing smartphone cameras, all while maintaining industry-standard size and form. The company has been collaborating closely with Qualcomm, a leader in the smartphone industry, and with DXOMARK, leaders in assessing phone camera image quality, to refine and validate their technology.
"Given the company's unique technological approach, robust IP portfolio and attractive project roadmap, we're thrilled to invest in the team at Lumenuity," said Michael Beer, Investment Partner at Vest Coast Capital. "The company is well-positioned to meaningfully improve camera performance while also reducing phone costs".
About Lumenuity:
Lumenuity is a cutting-edge optics company delivering groundbreaking technology for enhanced optical performance in compact systems. Our Light Unfolding® technology unlocks new imaging possibilities. We provide custom solutions tailored to our partners' needs. Learn more at www.LumenuityInc.com.
Founders:
Benjamin Shapiro, PhD: Founder and CEO. Served in C-suite roles for 3 deep-tech companies. Was a Full Professor in engineering for 18 years, at the University of Maryland at College Park. Fulbright scholar. On LinkedIn: https://www.linkedin.com/in/benjamin-shapiro-834ab28b/
Edo Waks, PhD: Co-Founder. Full Professor, Electrical & Computer Engineering, Quantum Institute, University of Maryland at College Park. Expert in optics, light and quantum mechanics. PECASE (Presidential Early Career award). Fellow APS (Applied Physics Society), OSA (Optical Society of America). On LinkedIn: https://www.linkedin.com/in/edo-waks-3635173b/
About Qualcomm:
Qualcomm is a trademark or registered trademark of Qualcomm Incorporated. Qualcomm branded products are products of Qualcomm Technologies, Inc. and/or its subsidiaries.
SOURCE Lumenuity, Inc.
