US-based fabless semiconductor company Movidius raised $40m on Monday in a series E round backed by investors including Robert Bosch Venture Capital, the corporate venturing unit of industrial group Robert Bosch.
The round was led by Summit Bridge Capital, and also included photovoltaic and lens technology producer Sunny Optical Technology Group, Arch Venture Capital Partners, Atlantic Bridge Capital, AIB Seed Capital Fund, Capital-E and DFJ Esprit.
Movidius’ technology enables visual sensing, meaning it mimics human vision computationally and can understand a physical environment, enabling applications, wearables and smart devices to be contextually aware of a user’s surroundings.
The company has secured $86.5m in funding to date. Robert Bosch previously co-led a $16m series D round in 2013 with Atlantic Bridge and DFJ Esprit, and which also included Capital E, AIB Seed Capital Fund and additional private investors.
Celtic House Venture Partners and Emertec Gestion have also backed Movidius in previous rounds.
Movidius will use the funding to grow its market share and strengthen partnerships.
Remi El-Ouazzane, CEO of Movidius, said: “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.
“This infusion of capital provides us with the resources to expand strategically, innovate constantly and extend our market leadership.”