Lytro, the creator of the world's first light field camera for consumers, has received a $40 million round of funding to apply its technology to new categories.
The funding comes after the company laid off some employees over the summer. CEO Jason Rosenthal declined to say how many of its $400 cameras it has sold, but claims the figure is 20% more than what it had planned.
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Against this backdrop, Lytro welcomed a new investor, North Bridge Ventures, which brings the company's funding total to date to $90 million.
Lytro launched its eponymous camera last December. The device applied technology pioneered by Ren Ng, a Stanford University researcher, that takes photos by capturing an entire plane of light. Standard cameras capture a single moment from a point of light. The upshot for consumers is that you can change the focus in a picture after the fact.
For many consumers, the appeal of a camera that retails for more than twice the price of a decent point-and-shoot isn't so obvious.
Rosenthal said many potential applications exist for the technology, though, including medical and industrial imaging, smartphones and video cameras. The new round of funding will help fuel such expansion.
"We’re mainly focused on how do we solve consumer professional and business problems with Lytro technology," Rosenthal added.
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