Wednesday, 20 October 2008
Capital-E, an early stage venture fund focusing exclusively on “enabling” micro- and nano-electronics, announces that they have invested as co-lead with Celtic House Venture Partners (Canada/UK) in a ‘Series A’ financing of Movidia Ltd. The funding round is over US$14 million in total. The syndicate is completed with participation of Emertec Gestion (France) as well as multiple local investors like Enterprise Ireland, Enterprise Equity and business angels.
Movidia was founded in 2005 by a very experienced semiconductor team. They have worked together for many years and have a proven track record in the industry. Since 2005, the founders have been working with own funding on their novel architecture and first chip (proven in silicon already) for advanced mobile video applications. In early 2009, their first products will be launched into the market.
Rudi Severijns, partner at Capital-E, will join the Board of Directors of Movidia Ltd. This investment fits within the focus of Capital-E on advanced multimedia applications in consumer electronics.Download the full press release