Meridian Innovation Pte Ltd, a Singapore-based thermal imaging sensors developer, has announced it has raised $12.5 million in a funding round led by new investors, strategic partners, as well as participation from existing investors.

This funding will enable Meridian Innovation to scale operations, accelerate product development and expand its reach into broader consumer and commercial markets, the firm said in a statement on Monday.

With this round, Meridian Innovation’s total investment to date is more than $30 million.

“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 Complementary Metal-Oxide-Semiconductor (CMOS)-based thermal imaging technology,” said Hock Leow, Chief Executive Officer and Co-Founder of Meridian Innovation.

With the support of our strategic partners and investors, he said the firm is poised to scale production, bring innovative solutions to market and unlock new possibilities in consumer and commercial applications.

He noted the firm’s CMOS-based approach gives them a clear advantage in delivering cost-effective thermal imaging sensors at scale, making thermal imaging more accessible than ever.

“We are committed to constant innovation and, with this new investment, we are accelerating our product development,

“We will be shipping our second generation higher resolution, 160×120, sensor in the fourth quarter of 2024,” he added.

Meridian Innovation is a firm revolutionizing thermal imaging with its patented Complementary Metal-Oxide-Semiconductor (CMOS)-based technology.

Unlike traditional thermal sensors, which rely on more expensive materials and production methods, its CMOS platform guarantees a significantly lower cost of manufacturing while maintaining the highest levels of performance for the consumer and commercial markets.

Over the past few years, the firm has shipped to many customers in numerous market segments, including internet of things (IoT) devices; smart appliances; in-cabin automotive monitoring; artificial intelligence (AI)-assisted baby monitoring and elderly care; security and safety products, as well as portable thermography instruments.

Meridian said the firm is uniquely positioned to capitalize and contribute to the needs of these growing market segments which are all rapidly adopting low-cost thermal imaging sensors.

It noted that both investors and customers are embracing its compelling, patented CMOS thermal imaging sensors, due to the salient benefits of low-power consumption, together with the lower cost of a mass manufacturable CMOS process.

“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 expand its global market presence.” stated Kaixin Tan, General Manager of Seeds Capital.

As the investment arm of Enterprise Singapore, SEEDS Capital catalyzes smart investments into innovative Singapore-based early-stage startups with strong intellectual content and global market potential.

“We are excited to deepen our partnership with Meridian and support its mission to bring cutting-edge thermal imaging technology to mass markets,” said Teck Lee Chee, CEO of Moveon Technologies Pte Ltd.

“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 own product portfolio,” he added.

Moveon Technologies Pte Ltd, founded in 2006, specializes in the design, engineering and production of precision micro-optics components and modules.

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