Movidius announces that it has raised $40 million in new funding. The investment was led by Summit Bridge Capital (a collaboration between Atlantic Bridge Capital and WestSummit Capital) and includes new contributions from ARCH Venture Partners and Sunny Optical Technology Group, as well as early investors including Atlantic Bridge Capital, AIB Seed Capital Fund, Capital-E, DFJ Esprit and Robert Bosch Venture Capital. The funding is said to be the most significant investment in a fabless semiconductor company in the past two years.
“Movidius has pioneered an entirely new class of cost-effective, low power and high performance processors, software and development tools, and this platform enables our customers to implement visual sensing that aims to mirror human vision capabilities,” said Remi El-Ouazzane, CEO of Movidius. “This infusion of capital provides us with the resources to expand strategically, innovate constantly and extend our market leadership.”
A promotional Vimeo video talks about the company and its markets: