SINGAPORE , Oct. 7, 2024 /PRNewswire/ -- Meridian Innovation Pte Ltd, the pioneer developer of low cost, mass producible thermal imaging sensors, is pleased to announce it has raised US$12.5 million in a funding round led by new investors, strategic partners, as well as participation from existing investors.
This funding will enable Meridian Innovation to scale operations, accelerate product development and expand its reach into broader consumer and commercial markets. With this round, Meridian Innovation's total investment to date is more than US$30 million . Meridian Innovation is revolutionizing thermal imaging with its patented Complementary Metal-Oxide-Semiconductor ("CMOS")-based technology.
Unlike traditional thermal sensors, which rely on more expensive materials and production methods, Meridian's CMOS platform guarantees a significantly lower cost of manufacturing while maintaining the highest levels of performance for the consumer and commercial markets. Over the past few years, Meridian has shipped to many customers in numerous market segments, including IoT devices; smart appliances; in-cabin automotive monitoring; AI-assisted baby monitoring and elderly care; security and safety products, as well as portable thermography instruments. Meridian is uniquely positioned to capitalize and contribute to the needs of these growing market segments which are all rapidly adopting low-cost thermal imaging sensors.
Both investors and customers are embracing Meridian's compell.