03 August 2012

Movea secures €6.5m funding for motion sensing and data fusion

Movea has secured €6.5million in a new round of funding led by Intel Capital, together with existing investors iSource and GIMV.

The company plans to focus this round of funding on the development of new motion sensing and data fusion technologies in a bid to revolutionize the mobile industry, with a focus on the consumer electronics, sports and fitness, and eHealth categories.

"The support from such industry leaders validates our vision of convergence from mobile devices - such as tablets, smartphones and ultrabooks - to set top boxes, activity monitoring and car infotainment," said Movea ceo Sam Guilaumé.

"Movea's solution is on the forefront of technology developments that are being aimed at enriching user experience, which is one of the main differentiators in consumer devices," commented Marcos Battisti, managing Director Intel Capital Western Europe and Israel. "We strongly believe we will be able to assist the company's growth as we add, besides capital, access to Intel Capital's expertise and extensive network."

Author
Simon Fogg

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Websites
http://www.movea.com

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