Ineda Systems, a Santa Clara, California, USA and Hyderabad, India-based developer of low-power SoCs (system on a chip) for use in the wearables and Internet of Things (IoT) market segment, raised an additional $2m in Series B funding from Cisco Investments.
This brought the total amount raised in Series B to $19M with Cisco Investments joining existing investors Samsung Catalyst Fund, Qualcomm Ventures, and Imagination Technologies, among others (read about the Series B first close here).
The company intends to use the funds to further develop its Dhanush family of Wearable Processor Units (WPU™).
Led by Babu Mandava, CEO, Ineda Systems has launched a Wearable Processor Unit, WPU™ a low-power, high-performance SoC targeting the emerging wearable technology market. It features Hierarchical Computing that allows applications and tasks to run at the right power optimized performance and has an always-on sensor hub optimized for wearable devices.