100 jobs to be created in major funding round for Movidius
This new financing round values the company at more than $100 million and the funding will also create up to 100 new jobs in Ireland. The investment was led by Summit Bridge Capital, the China-Ireland Growth Technology Fund co-managed by Atlantic Bridge Capital and WestSummit Capital, and includes new contributions from ARCH Venture Partners and Sunny Optical Technology Group, as well as early investors including Atlantic Bridge Capital, DFJ Esprit, Robert Bosch Venture Capital, AIB Seed Capital Fund and Capital-E. As part of this new round, David Lam of WestSummit Capital will be joining Movidius’ board of directors.
Movidius will use the financing to further drive software and hardware product innovation in visual sensing for the next wave of emerging applications, including virtual reality headsets, drones, home automation and wearables. Its technology will transform how devices and users interact with the world around them through intelligent, vision-based technology. Read more here