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WirelessDevNet.com Press Release
Morpho, Inc. Receives Funding from Nokia Growth Partners
Tokyo - Morpho, Inc., (www.morphoinc.com/eng) a leading provider of image processing software solutions for mobile devices, today announced that it has received an investment in the amount of 165 Million Japanese Yen from Nokia Growth Partners, the venture capital arm of Nokia (NYSE:NOK), the world leader in mobility.
The investment from Nokia Growth Partners, its first investment in a Japanese company, follows Morpho, Inc.'s recent announcement that it had received an investment from one of the world's foremost mobile communications companies, NTT DoCoMo.
Since being established in 2004, Morpho, Inc. has built a strong following for its offerings. Industry leading solutions such as image stabilization technology PhotoSolid and video stabilization technology MovieSolid, have established the company as a pioneer in mobile imaging. Digital photography is increasingly going mobile and better camera components are making mobile handsets the camera of choice for millions of people worldwide.
"As the resolution of mobile handsets increases, providing the user with innovative ways in which to enjoy digital photography becomes more important. Our software makes every image a keeper," stated Masaki Hiraga, Founder and CEO of Morpho, Inc.
The company continues to develop new applications that give mobile device manufacturers the ability to offer their customers the imaging quality they have come to associate with digital cameras without the need for dedicated hardware components or PC-based image manipulation software.
Rob Trice, partner at Nokia Growth Partners, said, "Morpho, Inc.'s advanced imaging software not only improves the picture quality on camera phones, but enables a variety of entertaining imaging applications for camera phone users to enjoy."
With the latest round of financing Morpho, Inc. will grow its overseas operations to meet the demands of customers worldwide. Nokia Growth Partners is a valuable strategic partner that will help Morpho, Inc. meet these goals. Trice further stated, "Nokia Growth Partners is pleased to have the opportunity to invest in a Japanese company with such a global perspective and great growth potential. We look forward to working with Morpho, Inc. to realize their vision that more mobile camera phone users outside of Japan enjoy the benefits of Morpho, Inc.'s superior imaging software."
About Morpho, Inc.
Established in 2004, Morpho, Inc. is a venture company focused on delivering industry leading computer vision, graphics and image processing solutions for application in mobile devices. Established by researchers from the University of Tokyo and by experts in digital media, the company continues to introduce innovative solutions in mobile image processing. Morpho, Inc. was selected by Red Herring as a recipient of the magazine's Red Herring 100 Asia award for 2006. For more information visit http://www.morphoinc.com./eng or contact info@morphoinc.com.
About Nokia Growth Partners:
Nokia Growth Partners is a leading global growth stage venture firm focused on mobile technology, services and media. Nokia Growth Partners is funded by Nokia to provide superior returns and investments into companies, firms, and people that are changing the face of mobility, communications, and the Internet. Headquartered in Menlo Park, California with US$200M under management, Nokia Growth Partners works closely with the companies in which it invests adding value through deep domain expertise in the mobility market combined with many years of venture investment experience. For more information visit www.nokiagrowthpartners.com.
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