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 $17m in Series B funding.
The round was led by Walden-Riverwood Ventures with participation from Samsung Catalyst Fund, Qualcomm Incorporated, through its venture capital arm, Qualcomm Ventures, IndusAge Partners and others, and existing investor Imagination Technologies.
The company intends to use the funds to further develop its new class of products.
Led by CEO Dasaradha Gude, Ineda Systems develops low-power SoCs (system on a chip) applicable to a multitude of devices such as smartwatches, health and fitness trackers and other wearable devices, as well as IoT.
FinSMEs
08/04/2014