Pelican Imaging Snaps Up $10 Million In Series B Funding

Pelican Imaging, a startup that focuses on smartphone camera technology, has just raised $10 million in a Series B round led by Globespan Capital Partners.

Previous investors Granite Ventures, InterWest Partners and IQT, also joined this round.

All told, Pelican has now raised north of $17 million in the last two years, after a $7 million Series A round in August 2009 and a strategic investment from IQT in July 2010 (for an undisclosed amount).

According to Pelican Imaging, it specializes in “computational cameras.” In layman’s terms, the startup has been working on hardware and software technology to help smartphone cameras effectively balance compact design and the need for high resolution images. Its suite of solutions (which includes patent-pending algorithms and specialized sensors) apparently addresses issues like “low-light sensitivity, dynamic range, white balance, anti-shake, near focus, and low-power photography,” the company says on its site.

“Pelican Imaging’s computational camera addresses the key pain points associated with conventional camera phones – the height of the camera module, poor image quality and a limited user-experience – targeting a rapidly growing market that currently exceeds $4 billion,” Globespan’s co-founder and executive managing director Barry Schiffman said in a statement. With this latest round, Schiffman will also join Pelican’s board of directors.