InvenSense secures $11m in research funding
Firm looks for opportunities in mobile market
Motion sensing specialist InvenSense has secured a second round of funding to develop technology for gaming and mobile handsets, totalling US $11 million (EUR 8.3 million).
The firm has already impressed investors and electronics manufacturers such as Sanyo, and intends to pursue market opportunities for motion sensing devices in gaming, mobile handsets and other consumer electronics.
The company's gyroscopic technology is currently used in digital cameras, camera phones and computer mice.
"We are seeking to expand our marketing and sales focus from the digital camera market to gaming consoles, mobile handsets and other consumer electronics devices," revealed Steven Nasiri, CEO of InvenSense.
"The infusion of new capital will enable us to build a broader infrastructure to handle demands for millions of units per month," added Nasiri.
Existing investors Artiman Ventures and Partech International, along with the investment division of wireless specialist Qualcomm, participated in the US $11 million deal.
"The fully integrated gyroscopes enable new applications on mobile handsets, including image stabilisation, gaming control and smart user interfaces," commented Nagraj Kashap, director of operations for Qualcomm Ventures.
"We are impressed by InverSense's technology and product roadmap and are pleased to participate in this investment round."