LONDON – Intel likes MEMS and gesture recognition it seems. Movea SA (Grenoble, France) has raised 6.5 million euro (about $8 million) in a funding round led by Intel Capital, joined by existing investors, iSource and GIMV.
Movea is a provider of gesture and motion recognition systems and in particular a provider of software for sensor and data fusion applications. One of the key things about Movea's software is that it is designed to bolt together to easily build up different features for different applications.
"Movea's solution is on the forefront of technology developments that are being aimed at enriching user experience, which is one of the main differentiators in consumer devices. We strongly believe we will be able to assist the company's growth as we add, besides capital, access to Intel Capital's expertise and extensive network," said Marcos Battisti, managing director of Intel Capital for Western Europe and Israel, in a statement issued by Movea.
Erik Jorgensen, investment director at Intel Capital, added: "We believe the role MEMS plays in technology, particularly on the mobile side, is going to continue to increase at a rapid pace and that Movea is in a position to be a key player to help drive and enable this important evolution."
Grenoble is well known as the place where in March 1815 Napoleon met a column of a French regiment sent to arrest him. Napoleon walked out alone in front of his few supporters and the army regulars were so overcome by his bravery and charisma that they instead joined him and marched with him in a 100-day campaign that ended in defeat at Waterloo.