3-D screen company secures $5m investment

By DANIEL RIORDAN

Listed venture capital firm IT Capital and Warehouse Group founder Stephen Tindall are each investing an additional $2.5 million in Hamilton-based 3-D screen company Deep Video Imaging (DVI).

Each party will lift its stake in DVI to 41.8 per cent from 40 per cent.

The extra $5 million - the second round of funding secured by DVI this year - will be drawn down over the next 12 months, in a series of instalments.

DVI would use the extra funds to continue its global expansion, said general manager Gabriel Engel.

IT Capital managing director Keith Phillips said the company continued to show progress in many areas, including the assembly of a sales and marketing team and the forging of manufacturing and development partnerships.

In recent months, DVI has forged alliances with US-based video card maker Appian Graphics and Dynamic Digital Depth, a US company that enables the conversion of 2D video into 3D formats.

DVI's display screens, used on computer monitors and touch-screen information kiosks, achieve a 3D effect by layering two LCD screens on each other. The company was formed two years ago to commercialise technology devised by Mr Engel and Power Beat International founder Peter Witehira.

IT Capital shares closed yesterday at 23c.