3D vision will soon play a huge role in our day-to-day lives and time-of-flight (TOF) is rapidly becoming the imaging platform of choice for many market applications, including gaming, consumer electronics, automotive, security and industrial automation.
For over 5 years, the Chronoptics Group have worked with the world's leading TOF camera manufacturers to understand technology limitations and develop novel solutions that contribute to accelerating mass-market application of TOF.
The support of KiwiNet and PreSeed Accelerator Funding (PSAF) provided a strong foundation for Chronoptics to develop a portfolio of IP, made up of at least 10 technologies targeted to distinct technical TOF challenges. Early PSAF investment allowed proof-of-concept development, which went on to trigger multiple technology sales and licenses, commercial returns of over NZ$500,000 and research contracts with commercial partners of over NZ$600,000.
KiwiNet are currently funding a project aiming to establish Chronoptics as a start-up and secure private investment, with a vision to enhance New Zealand's position as a thought-leader in TOF solutions development. KiwiNet's Corporate Partner, MinterEllisonRuddWatts , are also providing support with ongoing expert legal advice. The KiwiNet Investment Committee are excited to fund the current direction of Chronoptics as a high-tech commercialisation opportunity for New Zealand.
"Ongoing investment and support from KiwiNet has not only been critical to seeding an innovative platform of technologies, but importantly, it has also kick-started ongoing partnership development with major global players in the time-of-flight space. These partners have continued to take a strong interest in Chronoptics and will play a key role in the next exciting step in their journey."
Duncan Mackintosh, CEO, WaikatoLink Ltd