Low-Power Imaging Processor Chip Company Movidius Raises $16 Million
Movidius is a startup that is known for developing low-power imaging processor chips designed for mobile devices. Today the company announced that they have raised $16 million in Series D funding. This round of funding was led by Atlantic Bridge, DFJ Esprit, and Robert Bosch Venture Capital. Existing investors that participated in this round include Capital E, AIB Seed Capital Fund, and several private investors.
“This new investment allows us to bring our latest computational imaging processor to market early next year, and continue to innovate ground-breaking mobile applications with software partners,” stated Movidius CEO Remi El-Ouazzane. “Meeting the constant increases in processing power needed to deliver a quality user experience at the right power envelope for advanced mobile applications has required an entirely fresh approach to architecture and not just an incremental enhancement to existing technologies.”
Movidius is going to use the funding to build their R&D team in San Mateo, California.