Private Equity Week Wire for Wednesday 11/22

RAMAT-GAN, ISRAEL — Lenslet Labs Ltd., a developer of lightspeed optical signal processing technologies, today announced that it has raised $26 million in 3rd round financing. JK&B Capital and The Goldman Sachs Group, Inc. led the round. Other investors in this round include eXseed Technology Investments, Walden VC and Star Ventures. Lenslet Labs develops ultra fast digital signal processing engines based on optical, for use by original equipment manufacturers in digital audio, video, and communications products. The company’s patented Lightspeed Single Step(TM) (LSS) technology offers breakthrough processing capacity, deployment size, and power utilization to signal processing applications. LSS technology takes essentially all processing time out of the most computationally intense portions of Digital Signal Processing (DSP) applications.

ANN ARBOR, MI — HandyLab Inc., a “lab on a chip” company, announced today that four venture companies have provided a total of $2.4 million in venture capital funding. This financing represents HandyLab(TM), Inc.’s first round of venture funding. The funding will enable HandyLab(TM), Inc. to complete the development of working prototypes for its hand held diagnostic tool.