PixSense Secures Strategic Investment from Qualcomm

Qualcomm Ventures has led a new round of strategic funding for PixSense, a firm which develops network sided software to improve cameraphone image sharing. PixSense says that it will use this next round to grow its global corporate presence with wireless carriers.

"PixSense's solutions also elegantly bridge the technology and usability gaps between social networking services in the Web 2.0 world and mobile handsets, thereby setting a realistic framework for user convergence." said Nagraj Kashyap, director of North American operations, Qualcomm Ventures.

PixSense's multimedia and persona management solutions incorporate media compression technology, which dramatically reduces the file size of photos and videos up to 90 percent and optimizes network transmission with no loss in media quality. By integrating this technology into existing wireless carrier infrastructure, PixSense aims to significantly decrease operating costs for wireless carriers and changes the economics of offering rich-media services to mobile subscribers.

Media files often remain stuck on camera phones as a result of several factors, including the difficulty and cost to mobile subscribers in transferring high quality data from their phones. Solving this problem and advancing the mobile ecosystem, PixSense offers a multimedia management solution that benefits both carriers and end users.

"We are very excited about Qualcomm joining our existing investors and we believe their participation adds significant strategic value to our company," said Faraz Hoodbhoy, CEO of PixSense. "This strategic investment opens doors both on technology and business fronts for PixSense, and helps us continue to push the envelope in providing enhanced mobile multimedia management and convergence solutions for all players in the wireless carrier ecosystem."

Posted to the site on 19th June 2007