Mcube, a US-based producer of internet-connectable motion sensors, has closed a $37m series C financing round with investment from SK Telecom Ventures, the investment arm of telecommmunications company SK Telecom, and semiconductor manufacturer MediaTek.
The round also included iD Ventures America, Kleiner Perkins Caufield & Byers (KPCB), Keystone Ventures and DAG Ventures, all of which like MediaTek participated as existing investors, and Keytone Ventures and Korea Investment Partners, which like SK, invested for the first time.
Mcube previously raised $10m in a 2009 series A round led by KPCB, MediaTek, iD and DAG, followed by $25m in a 2009 series B round, according to electronics news source EE Times.
Mcube’s sensors can be used in many ways from indoor navigation to augmented reality and are small enough to be integrated into clothes or inserted into any device. It plans to use the funding to accelerate growth and expand its product line.