Making Movies
1 min read
Movidia has secured $14million in Series A funding for a low power video processor which allows users to perform video production functions on mobile phones.
Investments came from Celtic House Venture Partners, Capital-E, Emertec Gestion, AIB Seed Capital Fund and Enterprise Ireland. Movidia’s first product is set to launch in early 2009.
Designed for the growing global mobile social networking market, users will be able to edit and add post production effects to their own video content in real time, without the need for a PC.
Movidia's CEO and co-founder, Sean Mitchell, commented: “The confidence shown by our investors in supporting Movidia highlights the value of our unique technology and, in light of current uncertainties in financial markets, provides strong validation of our fabless business model, market strategy and product plans.”
Movidia’s Board of Directors will be expanded as a result of the investment with semiconductor industry investors Roger Maggs and Brian Antonen of Celtic House, Rudi Severijns of Capital-E and Jean-Philippe Gendre of Emertec Gestion all joining the Board.
