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November 28, 2016 Issue

CEOCFO MAGAZINE

 

Semiconductor Company Developing Imaging Sensors for the Machine Vision and Spectral Analysis Markets

 

 

Eli Assoolin

Founder & Chief Executive Officer

 

Newsight Imaging

www.nstimg.com

 

Interview conducted by:

Lynn Fosse, Senior Editor

CEOCFO Magazine, Published – November 28, 2016

 

CEOCFO: Mr. Assoolin, what is the idea behind Newsight Imaging?

Mr. Assoolin: Newsight Imaging is a young startup company, founded by my partner Eyal Yatskan and me, dealing with semiconductor development. We are focused on the development of a CMOS imaging sensor, which is a kind of camera on a chip. We do not go to markets that needs to capture a picture. We go to markets that needs machine vision and also spectral analysis. Those are our two main markets.

 

CEOCFO: How are is your approach different from what is already available?

Mr. Assoolin: We are a young Israeli semiconductor company, and it is very rare to find a new semiconductor company these days, because the investment barrier is very high. It also takes quite a long time get to your first product on the market. We are special in two main dimensions. First is our focus on the markets. We are focusing on the markets with kind of a new approach, where we are entering into the markets with our products that are now being developed. First is the market of chip laser LIDAR, which usually are very expensive and complicated devices. We are targeting the chip and high volume laser LIDAR sensors. This is one segment that we are approaching. The second market that we are approaching is the spectral analysis market. Today, spectral analysis is being implemented by very expensive spectral analyzers that are in a few methods and they are mostly used for research. We predict very high demand for a new line of portable devices that can identify a specific spectral signature and can be used for the entirety of an application. These are very exciting applications.

 

CEOCFO: Would you tell us about the applications?

Mr. Assoolin: For example, the food industry, where it is very important to identify food contamination. There are a few solutions today to identify food contamination, but all of them takes a great deal of time and effort. Where as we come with an approach that can identify food contamination, such as bacteria in food, only by scanning it. In our vision, we think about a portable device that can be used by many applications along the food production lines. They are already being used by inspectors where they simply hold out our device and they can inspect the foods. The second direction, which is spectral analysis, is in medical. We have a collaboration with some medical institutes and we have for example some very exciting prototypes that we want to make a portable device out of them. For example, a pre-natal fetal device that can check the embryos inside of the womb of a pregnant woman. It is a non-invasive solution, where you do not need any needles, because it is from outside of the body. This device already works in our partner's labs. We are going to make a portable out of it.

 

CEOCFO: Where are you in the development process?

Mr. Assoolin: We are special in two dimensions of our approach. The second dimension that we are special is how we started. Usually, startups like us develop an idea, go to find the markets, but we started from the market needs. We went to meet customers from the Far East, mainly in China, and we see the demand. We make sure that the demand is not a point demand, but something that can be used by many customers, and we started from there. This is the second thing that we are special in. We are in the development process, where we started to develop the first laser chips for the first two customers that we have in China. Both of them are very high volume orders.

 

CEOCFO: Are you seeking partnerships or funding?

Mr. Assoolin: We started with Seed investment from China, where we got half million dollars, but everyone in this industry knows that a half million dollars is nothing in terms of building a semiconductor company. So now we are targeting a much more meaningful 1st Round, because we already have customers. We are now talking to some Angels and VCs from the Far East, but we are open to any investment that can provide us with smart money. We are looking for investors that can give us additional value, whether to connect us to potential customers or to help us open new markets, or guide us in collaboration with strategic partners. This is what we are looking for and are open to. The next Round will probably be about $5-$8 million.

 

CEOCFO: Do companies in your industry understand your approach? Does it make sense at first look?

Mr. Assoolin: For the segment of the laser, it is very dependable, and we predict that it will become a trend, as it will be used everywhere. Regarding the spectral analysis, I think the company who develops medical equipment or a company in the food industry, can understand what we do much better today than the final customers. Eventually, we believe that every doctor will understand what we are targeting. Currently, we need to build the understanding in the spectral analysis area. In the laser we feel that we are accepted very well in the market.

 

CEOCFO: There are many startup companies, and many new ideas and technologies. Why does Newsight Imaging stand out?

Mr. Assoolin: Newsight Imaging is special because we have a disruptive technology. We are building our company as a "Lean startup". We do a great many cycles with customers to build the first product correctly. We think that Newsight Imaging is not only building on promises and market analysis. We are building our future on real markets that we can introduce to our investors. This is one thing. The second is that to be objective in Israel, we feel that we have some of the best talent in the area of cmos imager development. We have no issue with hiring the best talent in this area. On one hand we have the market, and on the second hand we have the execution capability, which is why we feel that we can be of great value to investors.


 

“On one hand we have the market, and on the second hand we have the execution capability, which is why we feel that we can be of great value to investors.”- Eli Assoolin


 

Newsight Imaging

www.nstimg.com

 

Contact:

Rachel Milgram

rachel.milgram@nstimg.com



 


 

 



 

 


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