InvenSense raises $11 million

Jan. 8, 2007 — InvenSense, a Santa Clara, Calif., provider of integrated motion sensing solutions for mobile and consumer applications, announced it has secured $11 million in Series B funding.

The company says the cash infusion will finance a high-volume production ramp for its integrated dual-axis gyroscope and will fund the completion of new product development for the handset market. QUALCOMM Ventures participated in the round, along with existing investors Artiman Ventures and Partech International, who fully participated.

InvenSense said the new round is the next step in the company’s strategy to pursue new market opportunities for integrated motion sensing in consumer electronics, including gaming and mobile handsets.

Using its initial round of funding, InvenSense was able to complete development, testing and production of hundreds of thousands of units for its IDG product family of dual-axis gyroscope, and to secure multiple design wins with major consumer electronics OEMs, including Sanyo Electronics.

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