mCube, provider of the world’s smallest MEMS motion sensors, today announced it has closed a $37 million Series C financing round.
Existing investors participating in the round include Kleiner Perkins Caufield & Byers, MediaTek, iD Ventures America, and DAG Ventures. New investors include Keytone Ventures, SK Telecom (China) Ventures and Korea Investment Partners. mCube plans to use the new funds to further accelerate its growth and expand its line of motion sensors.
By 2020, analysts predict more than 50 billion devices will be connected to the Internet and a large percentage of those devices will be in motion. From smartphones and tablets, to smart clothing and wearables, mCube is enabling a new era called the “Internet of Moving Things (IoMT)” where the movement and context of everyday objects and devices can be measured, monitored and analyzed, generating valuable data and insights that will transform consumer experiences.
“mCube is well positioned with the world’s smallest MEMS motion sensors to enable this high-growth new market we refer to as the Internet of Moving Things,” said Ben Lee, president and CEO, mCube, Inc. “Virtually anything in motion can benefit from mCube’s high-performance and low-power sensors. This latest financing round will enable mCube to accelerate its growth and develop more motion sensor products to capitalize on this massive IoMT market opportunity.”
mCube makes the smallest motion sensors in the world. As a technology leader, mCube aspires to be the enabler for the Internet of Moving Things by putting a MEMS motion sensor on anything that moves, improving the way consumers live and interact with technology. mCube is backed by leading investors and has already shipped over 60M units. For more information, visit www.mcubemems.com.