Movidius Raises $40M

Movidius, a San Mateo, California-based vision processor company serving the need for visual sensing in connected devices, raised $40m in new funding.

The round was led by Summit Bridge Capital (a collaboration between Atlantic Bridge Capital and WestSummit Capital) with participation from new investors ARCH Venture Partners and Sunny Optical Technology Group, as well as early investors Atlantic Bridge Capital, AIB Seed Capital Fund, Capital-E, DFJ Esprit and Robert Bosch Venture Capital. In conjunction with the funding, David Lam of WestSummit Capital will join Movidius’ board of directors.

The company intends to use the funds to innovate and grow in visually intelligent devices.

Led by Remi El-Ouazzane, CEO, Movidius is a fabless semiconductor company serving the need for visual sensing in connected devices, providing innovative vision processing unit (VPU) with a software development kit (SDK) environment. The company’s architecture delivers a new wave of intelligent and contextually aware experiences for users in mobile, wearable and other connected applications and devices.
It has offices in Silicon Valley, Ireland and Romania.

FinSMEs

14/04/2015