Lytro Snags $40 Million to Expand Beyond Cameras

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.

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. Read more...