Ineda Systems raises $ 17m in series B funding

Tags: News
Ineda Systems, developer of low-power system on a chip (SoCs) for use in wearables and internet of things (IoT) market segment, announced that it has raised $17 million in series B funding.

The investment was led by Walden-Riverwood Ventures and includes co-investors Samsung Catalyst Fund, Qualcomm Incorporated, through its venture capital arm, Qualcomm Ventures, IndusAge Partners and others, along with existing investors that include Imagination Technologies, whose IP cores such as processor, graphics and other cores are used in Ineda’s products.

The funding will be used to further develop Ineda’s integrated, ultra-low power semiconductor and software products that are aimed at the wearable device segment. “The market is primed for a new class of semiconductor architecture that is specifically designed to be ultra-low power and high performance for use in the rapidly growing wearable technology space,” said Ineda Systems chief executive officer Dasaradha Gude.

“We are confident that Ineda Systems will be able to meet the long battery life and high performance requirements in the wearables market,” said Sanjay Jha, Ineda Systems chairman.

krishnamohan

@mydigitalfc.com

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