GIMV co-leads investment in French ICT company Movea
GIMV announces that it has invested EUR 3 million in a first EUR 7.3 million capital round of French ICT start-up Movea, a spin-out of the French research institute CEALéti, that develops human motion capture solutions for the consumer and health care markets.
Today Movea also acquired the assets of American Gyration, specialized in motion pointing devices for digital media markets.
Headquartered in Grenoble (France), Movea (www.movea-tech.com) was founded in 2007 as a spin-out from the French research institute CEA-Léti. It develops and commercializes mobile, wireless, cost and energy effective solutions for human motion measurement. With its motion sensors modules Movea focuses both on the consumer electronics market, including pointing devices and mobile phones, and the healthcare market, including monitoring of physical activity and physical therapy.
Today Movea acquires Gyration (www.gyration.com), the California based leader in motion capture enabled consumer devices, such as optical mice, remote controls and presentation pointers. Based on their own breakthrough gyroscope technology, Gyration’s products enable intuitive cursor control from a couch or across a room by tracking natural hand motion.
Together Movea and Gyration will become the leading provider of high precision, low power consuming and low cost motion capture solutions.
GIMV invests EUR 3 million in a first EUR 7.3 million capital round of Movea. Next to co-lead investor French I-source Gestion, other investors are Thomson SA through its subsidiary Thomson Multimedia Sales International and French research institute CEA through its subsidiary CEA Valorisation SA.
No further financial details will be disclosed. Additional information is available in the enclosed press release and on the websites of Movea and Gyration.
For more information, please contact:
Mr. Frank De Leenheer - Investor Relations & Corporate Communications Manager
Tel: +32 3 290 22 18 - E-mail: firstname.lastname@example.org
Mr. Geoffroy Dubus – Director ICT France
Tel: + 33 1 58 36 45 61– E-mail: email@example.com