According to Intel, Movea specializes in "unique motion sensing intelligence designed for software, embedded and semiconductor solutions." The funding had a total value of 6.5 million Euros, or about $8.0 million.
Movea said that it will use the series C funding to "provide the necessary resources for [the company] to continue to grow and develop cutting-edge technology" and expand to "new motion sensing and data fusion technologies […] particularly in the consumer electronics, sports and fitness, and eHealth categories." Movea said that it currently owns 400 "technology" patents.
Up until now, Movea was focused almost exclusively on smart phones and tablets. It is rather unlikely that Intel will be moving into motion sensing technology. Intel Capital traditionally has served as a catalyst for companies that have the potential to increase demand for Intel chips.
Contact Us for News Tips, Corrections and Feedback
