LONDON Invensense, a startup specializing in single-chip devices based on MEMS technology for motion sensing applications, has secured $19 million in a Series C round of financing.
The round was led by new investor Sierra Ventures, with participation from previous investors Artiman Ventures, Partech International and Qualcomm Ventures.
Several strategic investors from Asia also participated , including Foxconn and Inventec Appliances Corp, both from Taiwan; Skylake Ventures from Korea; DoCoMo Capital, a U.S. subsidiary of NTT DoCoMo Japan, and VentureTech Alliance (whose majority LP is TSMC).
The round brings the Sunnyvale, California-based company's total funding to $38 million.
The company said the money would be used to develop a range of integrated motion sensing solutions based on multi-axis gyroscopes and accelerometers with embedded intelligence. These products address the fast-growing need for motion sensors in portable consumer electronics markets that will fuel a host of innovations in next generation applications such as 3D-games and gesture-enabled mobile phones.
Part of the new funds will also target expanding the sales effort.
"Invensense has already demonstrated a clear leadership position in mass production of very advanced MEMS motion sensing solutions with wide acceptance by many major consumer electronics companies," said Ben Yu, managing director, Sierra Ventures, who is to join the Invensense board of directors.
MEMS market highlights vendor competition
Qualcomm backs motion-sensing MEMS provider
Motion sensing gets moving