Movea secures 6.5 million Euros in Series C funding to grow further
August 03, 2012 // Julien Happich
A provider of motion processing and data fusion technologies, Movea announced it has secured a 6.5 million Euros round of funding 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 company plans to focus this round of funding on the development of new motion sensing and data fusion technologies to enhance the company's current offerings and exciting roadmap that will continue to revolutionize the mobile industry, particularly in the consumer electronics, sports and fitness, and eHealth categories.
“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.”
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