Movidus announced that it was now looking towards new applications for its chips. These applications could include scanning for 3D printing, augmented reality simulation, and user interfaces based on gaze or gesture. This plan came after the mobile 3D imaging chip developer announced that it received US$16 million in its latest venture funding round. The funding was participated in by the company's existing investors such as AIB Seed Capital Fund and Capital E. There were also new investors who participated such as Robert Bosch Venture Capital, DFJ Esprit, and Atlantic Bridge.
"This new investment allows us to bring our latest computational imaging processor to market early next year, and continue to innovate ground-breaking mobile applications with software partners," said Remi El-Ouazzane, Movidius' CEO.
According to Dan Dobberpuhl, Movidius' Chairman of the Board, "This new Movidius computational image-processing architecture opens up completely new possibilities on mobile devices that were once the realm of science fiction."
Movidus was also building a presence as well as R&D team in Silicon Valley. This was the new US headquarters of the company.
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