$9million funding enables advances in 3d multimedia for smartphones
1 min read
Dublin based mobile multimedia processor firm, Movidius, has secured Series C funding of $9million, bringing its total investment raised to more than $30m.
Movidius says the funding round will be used to develop its revenue growth as it continues deployments of its Myriad platform for mobile phone and consumer electronics markets. The 3d platform combines the company's low power multicore processor and application software technology to enable integration of advanced autostereoscopic 3d multimedia capabilities. These include real time 2d to 3d conversion of 2d video, hd 3d video capture and hd 3d display.
Movidius' ceo, Sean Mitchell, said: "Our funding announcement comes as we end a year of tremendous growth which saw Movidius continue to engage with our top players in the mobile handset space. This latest investment is a ringing endorsement from our shareholders and demonstrates their continued confidence in our market leading 3d multimedia capabilities. Movidius is on track to meet its ambitious targets for growth, financial performance and customer engagement."
The funding round has been concluded with all existing shareholders including Celtic House Venture Partners, Capital E, Emertec Gestion and AIB Seed Capital Fund.
