Movidia, a Dublin-based company developing mobile video processors specifically for social networking applications such as Facebook on mobile phones, has secured over $14m in series A funding.
Movidia is developing a low power video processor aimed at next generation mobile phone designs with multimedia capabilities such as video editing and effects processing which can be used in social networking applications
Movidia’s ISAAC microprocessor-based system-on-chip device, which is believed to be a multi-core device, has already taped out and is set to launch on the commercial market early next year.
“The confidence shown by our investors in supporting Movidia highlights the value of our unique technology and, in light of current uncertainties in financial markets, provides strong validation of our fabless business model, market strategy and product plans,” said Movidia's CEO and co-founder, Sean Mitchell.
Investments come from an international syndicate led by Celtic House Venture Partners and Capital-E and including Emertec Gestion, AIB Seed Capital Fund and Enterprise Ireland.
Movidia was set up in 2005 by researchers from Trinity College Dublin, It has hardware R&D in Dublin and a software development team in Romania.