Samsung, Qualcomm Invest In Wearable Processors Maker Ineda
Ineda Systems, a developer of low-power SoCs for use in wearable and the Internet of Things market, announced that it has raised USD 17 million in series B funding. The investment was led by Walden-Riverwood Ventures and includes co-investors Samsung Catalyst Fund, 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 new class of low-power semiconductor and software products for wearable devices. Separately, India-based Indea announced its Dhanush family of Wearable Processing Units. The Dhanush,WPU lines supports wearable devices including fitness bands, smart watches, glasses, athletic video recorders and the Internet of Things. They offer battery life of up to one month. Dhanush is sampling to tier-one customers now, and will be available in volume production in the second half of 2014.