Herndon, VA (PRWEB) April 04, 2012
The Center for Innovative Technology (CIT) announced today a $100,000 investment in McLean, Va.-based VanGogh Imaging, Inc. VanGogh is a software company that offers inexpensive, easy-to-use 3-D computer vision technology for high volume mobile applications. VanGogh’s software allows mobile devices to scan real-world objects and scenes in order to render 3-D models for Augmented Reality (AR) applications.
CIT President and CEO Pete Jobse said, “VanGogh’s innovative software provides commercial 3-D processing that will be beneficial in a variety of industries, such as tourism, e-commerce, medical imaging, motion analysis and 3-D printing. This Virginia-based mobile technology allows 3-D imaging to be convenient and accessible for various needs.”
VanGogh’s software utilizes a consumer camera or projector to extract 3-D data by adding high-definition texture and combining multiple scans to identify the object of interest. Then, VanGogh’s proprietary compression technology condenses the resulting data file – regardless of bandwidth limitations – to be used by multiple mobile applications on smartphone and tablet devices.
VanGogh’s CEO Ken Lee said, “We have developed a suite of tools that can be integrated into a single solution. VanGogh’s patented compression technology gives customers the unique ability to reduce the file size of 3-D images such that they can be sent to the cloud for processing from standard mobile devices.”
Tom Weithman, CIT Vice President and GAP Funds Managing Director, said, “VanGogh’s software provides a mobile, cost-effective solution for 3-D imaging. With our investment, VanGogh plans to further develop their sophisticated software and expand their workforce within the Commonwealth.”
Since its 2005 launch, CIT GAP Funds has placed over 60 investments across the Commonwealth, deploying greater than $5M of public funds and attracting more than $10 dollars of private funding for every $1 of public money invested. (For a list of portfolio companies, please visit the GAP Funds website.)
To learn more about VanGogh Imaging, Inc., please visit their website.
About the Center for Innovative Technology, http://www.cit.org
CIT is a nonprofit corporation that accelerates the next generation of technology and technology companies. CIT creates new technology companies through capital formation, market development and revenue generation services. To facilitate national innovation leadership and accelerate the rate of technology adoption, CIT creates partnerships between innovative technology startup companies and advanced technology consumers.
About the CIT GAP Funds, http://www.citgapfunds.org
CIT GAP Funds makes seed-stage equity investments in Virginia-based technology, clean tech and life science companies with a high potential for achieving rapid growth and generating significant economic return for entrepreneurs, co-investors and the Commonwealth of Virginia. CIT GAP Funds investments are overseen by the CIT GAP Funds Investment Advisory Board (IAB). This independent, third-party panel consists of leading regional entrepreneurs, angel and strategic investors, and venture capital firms such as: New Enterprise Associates, Grotech Ventures, Valhalla Partners, Harbert Venture Partners HIG Ventures, Edison Ventures, In-Q-Tel, Intersouth Partners, SJF Ventures, Carilion Health Systems, Johnson & Johnson, General Electric, and Alpha Natural Resources.