Invensense secures $19 Mn in series c funding

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Sunnyvale: InvenSense, a provider of motion sensing solutions for mobile consumer applications, today announced it has secured $19 million dollars in Series C venture capital financing. The round was led by new investor Sierra Ventures, with participation from previous investors Artiman Ventures, Partech International and Qualcomm Ventures. Several strategic investors also participated in the Series C investment round including Foxconn, Inventec Appliances Corp, both from Taiwan; Skylake Ventures from Korea; DoCoMo Capital, a wholly-owned U.S. subsidiary of NTT DoCoMo Japan, and VentureTech Alliance (whose majority LP is TSMC). Ben Yu, managing director at Sierra Ventures, will join InvenSense's board of directors. The round will bring InvenSense's total funding to date to $38 million. The latest infusion of investment funding will accelerate the next phase of company growth and evolve both the company business and product strategy. InvenSense will expand sales operations to support new customers and bring a new family of the world's first integrated motion sensing solutions based on multi-axis gyroscopes and accelerometers with embedded intelligence. These products address the fast-growing need for motion sensors in portable consumer electronics markets that will fuel a host of innovations in next generation applications such as 3D-games and gesture-enabled mobile phones. "Sierra Ventures was the ideal partner to lead this round for us, and we are pleased with participation by a high quality list of Asian strategic investors. We have now solidified our commitment to Asia and to some of the largest consumer electronic companies in the world," said Steven Nasiri, chief executive officer and founder of InvenSense. "This new capital will help InvenSense continue to lead the way in developing the most innovative and cost effective motion sensing solutions with integrated gyroscopes, accelerometers, and embedded intelligence and enable a new generation of applications for gaming."

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