Movea, a developer of motion processing and data fusion technologies, added a new round of funding, bagging 6.5 million Euros ($7.95 million) from Intel Capital, iSource and GIMV. Movea is based in Grenoble, France.
Movea (www.movea.com), a leader in motion processing and data fusion technologies, today announced it has secured a new round of funding in the amount of 6.5 Million Euros led by Intel Capital, together with existing Investors iSource and GIMV.
“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.”
“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, etc. We’re pleased to welcome Intel Capital as an investor and value this recognition of Movea as a leading edge company in the development of motion processing and data fusion technology to enable this convergence.”
This momentum comes on the heels of Movea’s 5th anniversary, which was recently celebrated with the filing of the company’s 400th technology patent, impressive partner growth and industry recognition from leading analyst firm, Gartner Inc. Movea 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.
Commenting on the deal, Marcos Battisti, Managing Director Intel Capital Western Europe and Israel, said: “Intel Capital is pleased to have led the latest funding round in a dynamic company such as Movea. Movea’s solution is on the forefront of technology developments that are being aimed at enriching user experience, which is one of the main differentiators in consumer devices. We strongly believe we will be able to assist the company’s growth as we add, besides capital, access to Intel Capital’s expertise and extensive network.”
“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.”
Movea (www.movea.com) is a leading provider of motion sensing and data fusion software, firmware, and IP for the consumer electronics, particularly smart phones and tablets, sports and fitness and eHealth industries. Movea’s proprietary SmartMotion™ technology – unique motion processing capabilities – enable customers and partners to quickly add motion intelligence to their products, providing reduced risk, cost, and time-to-market advantages for delivering compelling new motion-based features that create more value and a more exciting user experience for the consumer.
Movea has a global presence with headquarters in Grenoble, France, a U.S. subsidiary in Silicon Valley, California, as well as technology and manufacturing partners and distributors around the world. The company was recently named a “Cool Vendor for 2012” by leading analyst firm Gartner Inc. For more information visit www.movea.com or follow us on Twitter at @MoveaDataFusion.
About Intel Capital
Intel Capital, Intel’s global investment and M&A organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, health, consumer Internet, digital media, semiconductor manufacturing and cleantech. Since 1991, Intel Capital has invested more than US$10.6 billion in over 1,245 companies in 52 countries. In that timeframe, 200 portfolio companies have gone public on various exchanges around the world and 299 were acquired or participated in a merger. In 2011, Intel Capital invested US$526 million in 158 investments with approximately 51 percent of funds invested outside the U.S. and Canada.