Ineda Raises $17 Million For Wearable Device Chip R&D

Walden-Riverwood Ventures led this investment round and the other co-investors include Samsung Catalyst Fund, Qualcomm Incorporated (through their venture capital arm Qualcomm Ventures) and IndusAge Partners.  The round has also included many others, alongside existing investors, which include Imagination Technologies, whose IP cores such as processor, graphics and other cores are currently used in Ineda’s tech products.

The funding will also be used to advance development in Ineda’s new class of highly integrated, yet ultra-low power semiconductors and software products that are intended for the wearable device markets. These SoCs will be pertinent to devices like the Smartwatch, and or health and fitness trackers and other wearable technology.

Ineda Raises $17 Million For Wearable Device Chip R&D

Ineda Systems CEO Dasaradha Gude said, “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.”

Sanjay Jha, Ineda Systems chairman and CEO of GLOBALFOUNDRIES said, “With its industry-first WPU technology and world-class management team, we are confident that Ineda Systems will be able to meet the long battery life and high performance requirements in the wearables market.”

Is furthering research and development in wearable technologies the next big thing?  As always, if you would like to leave a sensible comment, then please do so in the comments section below.

[Image via fastcodesign]

SOURCE: http://www.asianscientist.com/tech-pharma/ineda-raises-us17-million-wearable-devices-2014/