Intel Capital leads $10.5m Series B for web video collaboration company Altia


video camcorderIntel Capital has led a $10.5m Series B financing round for video and web collaboration software developer Altia Systems.

The company’s PanaCast system provides a panoramic HD video and audio collaboration system for smartphones, tablets and desktop computers.

Intel Capital president Arvind Sodhani said, “Altia Systems is transforming the collaboration experience by taking advantage of the PCs, tablets and smartphones already in use around the world.

“Altia Systems is breaking new ground by bringing panoramic camera technology to the field of web conferencing, enhancing the experience with sophisticated pan and zoom capabilities at a very affordable cost.

“We look forward to working with them to ensure a consistently high quality experience across all devices.”

Intel recently revealed it had launched a new $100m fund targeting development of smart devices such as phones, wearable technology and tablet computing in China.

The Intel Capital China Smart Device Innovation Fund was announced by Intel CEO Brian Krzanich as part of a plan to build on the company’s 30-year history in China.

Krzanich also revealed the firm would be opening a new Intel Smart Device Innovation Center in Shenzhen to expand its work beyond tablets.

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