New money is coming in for wireless memory card maker Eye-Fi as it secures Series B funding of $11 million from investors. The round of investments was led by TransLink Capital, with new funding from LMS Capital and participation from existing investors Opus Capital and Shasta Ventures.
Eye-Fi says it will use the investment to fund further development of its portfolio, expand distribution into new markets, and scale its organization and market development activities to support its fast-growing business.
Eye-Fi was founded in the summer of 2005 and launched its first product, the Eye-Fi Card, in October 2007. Since launch, the company has expanded its product portfolio and introduced new services; formed partnerships with Nikon, Lexar and more than 20 online photo destinations; and expanded its online and brick-and-mortar retail distribution to include national channels, such as Circuit City.