US-based chipmaker Intel’s corporate venturing unit has helped Movea, a France-based motion processing and data fusion technologies company, raise €6.5m ($8.1m) in its series C round.
Intel led the round, which was joined by venture firms iSource and GIMV. ISource and GIMV, along with France-based industrial group Thomson, had previously provided at least €7.3m to Movea since late 2007.
The company has filed its 400th patent recently and uses its Motion Core suite to help sensors on mobile phones.
Marcos Battisti, managing director of Intel Capital Western Europe and Israel, said: “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. 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.”
Erik Jorgensen, investment director at Intel Capital, added: “We look forward to supporting Movea and increasing our involvement in the MEMS [microelectromechanical systems] and motion sensing space in general. 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.”