Ineda Raises $17M to Create Chips for Wearable Devices

US and Indian start-up Ineda Systems, developed a low-power SoCs (system on a chip) for use in the wearable market and has raised $17 million in Series B funding, according to AsianScientist.

The investment was led by Walden-Riverwood Ventures and included co-investors Samsung Catalyst Fund, Qualcomm Incorporated Partners, along with existing investors that include Imagination Technologies, whose IP cores such as processor, graphics and other items are used in Ineda’s products.

“The market is primed for a new class of semiconductor architecture that is specifically designed to be ultra-low power and high performance for use in the rapidly growing wearable technology space,” Ineda Systems CEO Dasaradha Gude said.

“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.