Never heard of it til now. A quick review shows it has some interesting features and is oriented towards divers. I've often pined that uw cameras need a depth sensor because white balance is neither a single setting (as with Sony) or even a series of settings (Flip filters 0-20, 20-50, 50+) but an infinite range based on depth. Paralenz seems to have that depth sensor and adjust colors based on depth. However, depth is just one part of it. You also need to adjust for ambient light and water color. One complaint about Gopro and Sony is inability to manually set white balance by aiming at something white, then lock it. Paralenz seems to also lack this. I hate it when auto white balance suddenly shifts in middle of scene.
But at $599, Paralenz is significantly more expensive than Sony or Gopro.
But at $599, Paralenz is significantly more expensive than Sony or Gopro.