Lytro's new $1600 camera is expected to change the digital photography game when it hits store shelves in July this year.
According to the company, the camera will allow consumers to capture photos with increased power, compared to the original product released three years ago, CNN reported.
The company also aimed to create a product that would allow consumers to view online photos with greater clarity.
"We think that if you look at how pictures work today in the world and on the Web, we're really still tied to the legacy of print," company officials said. "This will really replace digital in the way that digital has replaced film."
According to CNN, the camera has an upgraded kind of light-field technology to take photos that the startup technology company likes to refer to as "living pictures": photos that users can modify focus-wise with various items in the vicinity of the frame.
According to USA Today, the camera has a 1/4000th max shutter speed, 4-inch touch screen, 4-inch Liquid Crystal Display touchscreen with a backlight and space for an SD memory card for photo storage.
Consumers can also take advantage of the camera's wireless capabilities, which are available via Qualcomm chip similar to ones found on tablets.
The current executive chairman at Lytro told CNN that this kind of technology - dynamic devices that will shift the future of cameras - is important for consumers to get full use of its advantages.
"Transformational tech needs a transformative product to bring the full benefits," Ren Ng said. Ng was a student at Stanford University when he first launched Lytro.
Those who pre-order Lytro's latest camera before, or on the July 15 deadline can buy the product for $1,500, according to USA Today.
Lytro launched and began selling its first camera for $399 in 2011 after fundraising $50 million.
