Investment & Fund Management
an early-stage venture
Full Credential Description
Movidius, an Irish hardware development firm specializing in machine vision processing, faced significant challenges in the competitive landscape of image and object recognition technologies. Prior to their breakthrough, existing image recognition systems were power-hungry and impractical for widespread use, limiting their adoption in mobile devices and small robotics, such as drones. Movidius aimed to innovate by developing unique vision processing chips that drastically reduced power consumption and size, making them suitable for a variety of applications, including augmented and virtual reality.
To support Movidius in overcoming these challenges, Capital-E, an early-stage venture fund backed by the European Investment Fund (EIF), provided crucial financing starting in 2008. This initial investment was pivotal in enabling Movidius to refine its technology and expand its market presence. As the company progressed, it attracted additional investments from notable firms such as Draper Fisher Jurvetson, Draper Esprit, and Atlantic Bridge, which played a significant role in establishing Movidius as a leader in the industry.
The results of this tailored support were substantial. Movidius experienced significant growth, opening offices in Dublin, Hong Kong, and establishing a software development center in Romania. The recognition of the importance of vision processing and machine intelligence led to Intel's acquisition of Movidius in September 2016, further solidifying its position in the market. This acquisition not only validated Movidius' innovative approach but also highlighted the successful transformation of the company into a key player in the rapidly evolving field of robotics and automation.