Kinect Makers Raise $50 Million in Funding

January 13, 2011 -

The creators of the Kinect motion sensing technology for Xbox 360 are raking in the investment cash. According to Globes, Israel-based company PrimeSense has raised $50 million in funding. The cash comes from existing investment firms including Silver Lake, Gemini, Genesis, and Caanan Partners. With the additional $50 million, PrimeSense has a total investment of $79 million.

Company president Aviad Maziels says that PrimeSense has had many acquisition offers, but wants to remain independent and remain part of the business community in Israel.

"We constantly get acquisition offers, but we want to be part of an industry in Israel and we don't intend to be easily sold," he said.

While Microsoft remains its lone console partner, the company is working with other technology companies to develop new types of hands-free input solutions. Microsoft's Kinect has sold 8 million units to-date.

Source: GI.biz

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