Movidius raise $16M funding to bulid revolutionary mobile device chip
As reported on Venturebeat.com, 10th July 2013
Movidius is taking on ARM, Apple, Samsung, Intel, Qualcomm and others in the 'image processor chip' market.
The San Mateo, Calif.-based startup is announcing today it raised $16 million in a fourth round of funding to build what it calls a "revolutionary computational image processor chip." The purpose is to enable eye-popping visual applications on mobile devices that run circles around today's best-looking apps and games -- without killing your device's battery life.
"We are addressing problems that existing applications processors cannot address," El-Ouazzane said. "We want to drive the next wave of mobile experiences. Our investors recognize that the innovation in this industry is not necessarily coming from the bigger companies." [Venturebeat]