Movea wins millions to drive MEMS forward
Intel Capital moves into MEMS market with Euro 6.5m award to Movea
France-based MEMS sensor developer, Movea, has secured Euros 6.5m in new round founding, led by Intel Capital, together with existing Investors iSource and GIMV.
"This new round of funding will help provide the necessary resources for Movea to continue to grow and develop cutting-edge technology," said Sam Guilaumé, CEO of Movea. "The support from such industry leaders validates our vision of convergence from mobile devices - such as tablets, smartphones and Ultrabooks - to Set Top Boxes, Activity Monitoring and Car Infotainment."
Movea recently filed its 400th technology patent and now plans to focus this round of funding on the development of new motion sensing and data fusion technologies.
"We look forward to supporting Movea and increasing our involvement in the MEMS and motion sensing space in general," said Erik Jorgensen, Investment Director, Intel Capital. "We believe the role MEMS plays in technology, particularly on the mobile side, is going to continue to increase at a rapid pace and that Movea is in a position to be a key player to help drive and enable this important evolution."
