IRYStec Software Inc. has raised $6.5 million in Series-A2 funding led by Whitecap Venture Partners with participaton of BDC Capital, Skunkworks and angel investors including Jean-Francois Grenon and Purple Angels.
Joe Catalfamo, Partner at Whitecap Venture Partners, has joined IRYStec board of directors.
Founded by Tara Akhavan, Montreal based IRYStec Software is a developer of perceptual display processing technology for display device manufacturers. IRYStec Software intends to use new funding to support scaling of sales and engineering to build on IRYStec’s first customer beach heads – smart phone and automotive.
IRYStec Software closed its Series A-1 in July 2016 led by BDC Capital with pariticipation of Tandemlaunch and angel investors including the Purple Angels.
With the closing the new round in April 2018, Whitecap Venture Partners III, L.P. became the largest shareholder, ahead of BDC Capital and Tandemlaunch Ventures I, LP.
photo credit: IRYStec Software
News Release
IRYStec Closes Series-A2 Financing Round
MONTREAL, June 06, 2018 (GLOBE NEWSWIRE) — IRYStec Software Inc., the world leader in perceptual display processing technology, announced today that it has successfully closed Series-A2 financing led by Whitecap Venture Partners. Other investors in this financing include BDC Capital, Skunkworks and prominent Canadian tech angel investors including Jean-Francois Grenon and Purple Angels. This financing will support scaling of sales and engineering to build on IRYStec’s first customer beach heads – smart phone and automotive.
“Every display will eventually be a “perceptual display” and the technology behind these displays will be invented and delivered by IRYStec, ”said Joe Catalfamo, Partner Whitecap Venture Partners. Joe added, “ We are impressed with IRYStec’s leadership team, strong patent position and the early adoption of IRYStec’s perceptual technology in the safety critical automotive market where displays are growing in size and number.”
“IRYStec is better positioned to win with Whitecap in our corner. We are looking forward to the venture experience of the Whitecap team in helping early stage companies scale.” commented Simon Morris, CEO of IRYStec.
About Whitecap Venture Partners
Whitecap Venture Partners is a $100-million Toronto based early-stage venture capital fund investing in high-growth companies across three verticals: Information and communications Technology (ICT), Med Tech and Food Tech. Their team of operators and investment professionals have partnered for over 25 years with entrepreneurs in verticals where they have deep domain expertise and can bring significant operational and strategic value to companies. www.whitecapvp.com.
About IRYStec Software Inc.
IRYStec Software Inc. is leading the development of perceptual display processing technology for display device manufacturers. Providing Perceptual Display Platform (PDP) embedded software solutions, IRYStec enables consumer device and automotive OEMs to significantly improve their display device viewing experience, perceived visibility, eye strain and power consumed. Based on understanding the science of the human eye, proprietary algorithms and physiological models, IRYStec replicates and emulates how the human eye sees. Adapting content to viewer attributes (age, gender,etc…) PDP dramatically improves readability across all ambient light conditions, while reducing eyestrain and reducing power consumption. Look for IRYStec’s first PDP software products, MOBILEvue and DRIVEvue, in vehicles and consumer devices in 2018.
Founded in 2015 and based in Montreal, Canada, IRYStec was a winner of the 2016 Silicon Valley Forum’s World Cup Tech Challenge, Fundica 2016 winner, TiEcon Canada 2017 winner. For more information visit www.irystec.com or contact Marketing Assistant, Jason Sellors jsellors@irystec.com.