Lifesize, Logitech's videoconferencing division, will be spun out with $17.5m in series A capital, with Logitech retaining a 37.5% stake.

Switzerland-based computing technology provider Logitech International has spun out its Lifesize videoconferencing division into a private company with $17.5m in series A funding from three US-based venture capital firms.

Redpoint Ventures, Sutter Hill Ventures and Meritech Capital Partners provided the capital. Logitech, which is divesting the company as part of a streamlining process that will involve prioritising its retail business, will retain a 37.5% stake in the newly formed company.

Lifesize provides high-definition, cloud-based videoconferencing software that can connect up…