MEMS Drive, Inc., a Pasadena, CA-based semiconductor company that develops, manufactures and markets MEMS actuators, closed an $11m Series B funding.
The round was led by venture capital firm Walden International.
The company intends to use the funds to ramp production of its MEMS (micro-electro-mechanical system) optical image stabilization (OIS) actuator for smartphone camera technology.
Led by Colin Kwan, CEO and co-founder, MEMS Drive is a fabless semiconductor company that develops, manufactures and markets MEMS actuators which target hardware application in mobile imaging of portable electronics.
The company already partners with smartphone maker OPPO, which demonstrated its SmartSensor (that uses MEMSDrive as underlying technology) in a smartphone camera to handset industry media and analysts at Mobile World Congress in Barcelona. The two companies are now co-developing the technology.