Movidius Raises $40M for Augmented Reality Venture

Movidius Raises M for Augmented Reality Venture


Vision processing startup Movidius, which contributed computer vision technology to Google’s Project Tango development kit, announced a $40 million funding round this week, with Summit Bridge Capital leading the surge.

“We are entering the Golden Age of accelerated computer vision,” said CEO Remi El-Ouazzane.

Movidius’ work on Project Tango, a development kit that uses infrared and depth sensors to map out 3D models of objects or even entire spaces, has caused waves in corners of the hardware scene. Business Insider’s Lara O’Reilly called it an “extremely clever device,” and drew attention to potential uses for retail managers who want to precisely map the layout of stores.

The funding is earmarked for research, new jobs, and improvements to developer software tools, El-Ouazanne said.

El-Ouazzane hinted at upcoming consumer products that will feature the technology. TechCrunch surmised that Movidius might be working on autonomous drone flight or a consumer-oriented experiment in virtual or augmented reality.

El-Ouazzane said that he sees vision processing for cars as a lost cause for a company the size of Movidius; the time it takes for a unit to go to market is simply too long.

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