Movea, a leading designer of motion-sensing technologies, has received funding in the amount of €6.5 million ($8.044 million) led by Intel Capital, together with existing Investors iSource and GIMV. Movea develops motion sensing intelligence designed for software, embedded and semiconductor solutions that are used inside the consumer electronic products and applications geared towards sports, fitness and health. Eventually, Movea's technologies may find themselves inside Intel's own solutions.
Movea SA, a spin-off from the French research institute CEA-Léti, commercializes motion-based solutions for the health care and sports markets. Movea company is the inventor and patent holder of a motion-sensing technology for in-air navigation and cursor control on a television screen or monitor. According to the company, its MotionIC chips and chipsets power computer peripherals, remote controls for IPTV, equipment and accessories for sports and fitness, as well as physical rehabilitation monitoring solutions. The company does not only develop special-purpose chips, but rather solutions for various motion-sensing applications; therefore, it can address almost any types of products that need motion-sensing. Movea also owns Gyration, a well-known maker of motion-sensing products that was founded back in 1989.
"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, etc. We are pleased to welcome Intel Capital as an investor and value this recognition of Movea as a leading edge company in the development of motion processing and data fusion technology to enable this convergence," said Sam Guilaumé, chief executive officer of Movea.
Movea plans to focus this round of funding on the development of new motion sensing and data fusion technologies to enhance the company’s current offerings and exciting roadmap that will continue to revolutionize the mobile industry, particularly in the consumer electronics, sports and fitness, and e-health categories.
“We look forward to supporting Movea and increasing our involvement in the MEMS and motion sensing space in general. We believe the role MEMS plays in technology, particularly on the mobile side, is going to continue to increase at a rapid pace and that Movea is in a position to be a key player to help drive and enable this important evolution,” said Erik Jorgensen, investment director at Intel Capital.
The investment comes on the heels of Movea’s 5th anniversary, which was recently celebrated with the filing of the company’s 400th technology patent and impressive partner growth.