$2.8 million for Pixel Velocity means 36 new jobs

Venture capital lightning strikes twice for Pixel Velocity. The Ann Arbor start-up recently received its second investment from Michigan’s 21st Century Jobs Fund. That $1.8 million will come with another $2 million in venture capital. It’s an investment that is expected to add 36 new jobs to its existing staff of 25 within the next few years. Pixel Velocity received $1.5 million from the 21st Century Jobs Fund in 2006 on top of another $5 million. The company creates high-speed digital image processing products for the surveillance and medical imaging markets. Pixel Velocity has become quite good at that, growing its revenue by triple digits annually and adding, on average, 7-9 people. Company officials maintain that surveillance market will continue to grow in this Post 9-11 world and so will its medical imaging work, which creates images of the heart, as the population ages. Source: Michigan Economic Development Corporation Writer: Jon Zemke