MetaOptics raises $1.1m to automate metalens camera module production

Some of the placement proceeds will support the commercial launch of MetaPhone.

MetaOptics has entered into placement agreements to issue 2,685,825 new ordinary shares at $0.3912 each, raising gross proceeds of $1.1m.

Part of the proceeds will fund the engagement of Penang-based equipment manufacturing partner Elsoft Research Bhd to fully automate assembly of the Group’s 5-megapixel colour metalens camera module.

The group said the module has delivered consistent imaging performance on MetaOptics’ pilot production line, prompting it to move towards full-scale commercialisation.

With a maximum thickness of approximately 3mm, the module is built on a flexible circuit and uses a single-layer rectangular metalens to produce 5-megapixel image quality.

MetaOptics said the architecture could provide cost and form-factor advantages as demand shifts towards smaller and lighter imaging systems.

The group has also completed the design of a 12-megapixel version in collaboration with a US-based technology company.

It will begin prototyping wafer production using titanium dioxide, extending the metalens platform to higher-resolution applications.

Some of the placement proceeds will also support the commercial launch of MetaPhone, the Group’s metalens-enabled 5G smartphone, through a direct-to-consumer sales channel.

MetaPhone features a non-contact fingerprint metalens module and an ultra-thin 5-megapixel metalens camera module.

The smartphone is designed without the camera bump found on conventional smartphones.

MetaOptics said its cash position remains sufficient to meet equipment purchase orders, scale its metalens fabrication processes towards mass production capabilities, and support its pipeline of customer engagements.

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