Movidius racks up $40 mln

San Mateo, California-based vision processor company Movidius has secured $40 million in funding. Summit Bridge Capital, a joint venture between Atlantic Bridge Capital and WestSummit Capital, led the round with other investors that included ARCH Venture Partners, Sunny Optical Technology Group, AIB Seed Capital Fund, Capital-E, DFJ Esprit and Robert Bosch Venture Capital. In addition to the funding, David Lam of WestSummit Capital has been appointed to Movidius’ board of directors.

North AmericaUSBriefs