Singapore-based developer of low-cost, mass-producible thermal imaging sensors, Meridian Innovation Pte Ltd has raised $12.5 million in funding. The round was led by new investors and strategic partners along with participation from existing investors, bringing total investment to over $30 million.
Meridian will use the fund to scale operations, accelerate product development, and expand its reach into broader consumer and commercial markets.
Its patented product Complementary Metal-Oxide-Semiconductor (CMOS)-based technology offers a lower cost of manufacturing while maintaining the highest levels of performance for the consumer and commercial markets. The product is largely used by consumers across various market segments, including IoT devices, smart appliances, in-cabin automotive monitoring, AI-assisted baby monitoring and elderly care, security and safety products, and portable thermography instruments.
“As an early investor, SEEDS has been part of Meridian’s remarkable journey in developing its groundbreaking CMOS-based thermal imaging technology and is proud to support the commercialization of its products. We look forward to supporting Meridian’s growth as it further optimizes its production capabilities and expands its global market presence,” stated Kaixin Tan, General Manager of Seeds Capital.
“We are excited to deepen our partnership with Meridian and support its mission to bring cutting-edge thermal imaging technology to mass markets. Their unique CMOS-based approach is a game-changer, not only in terms of cost but also in manufacturing scalability. We believe this investment will help Meridian Innovation to solidify its leadership in the industry and unlock new applications in our product portfolio.” said Teck Lee Chee, CEO of Moveon Technologies Pte Ltd.
“We are thrilled to have Moveon, TCVC, and Hong Kong Science and Technology Parks Corporation as new investors. This funding marks a significant milestone in our journey to become the leading provider of CMOS-based thermal imaging technology. With the support of our strategic partners and investors, we are poised to scale production, bring innovative solutions to market, and unlock new possibilities in consumer and commercial applications. Our CMOS-based approach gives us a clear advantage in delivering cost-effective thermal imaging sensors at scale, making thermal imaging more accessible than ever.” said Hock Leow, CEO and Co-Founder of Meridian Innovation. “We are committed to constant innovation and, with this new investment, we are accelerating our product development. We will be shipping our 2nd generation higher resolution, 160×120, sensor in Q4 2024.”
