In its third round of institutional financing, mobile sensor-maker mCube has announced that it has raised $37 million.
The company’s existing investors, Kleiner Perkins Caufield & Byers, MediaTek, iD Ventures America and DAG Ventures, all participated in the financing round. Additionally, new investors including Keytone Ventures, SK Telecom (China) Ventures and Korea Investment Partners joined the effort as well.
“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, mCube president and CEO, in a statement on the news.
The company considers itself to be a leader in the new era of the “Internet of Things.” The demand for mobile sensors is beginning to expand into the tech industry – more manufacturers are looking to integrate them into smartphones, watches and 3D gaming devices.
“Virtually anything in motion can benefit from mCube’s high-performance and low-power sensors,” Lee continued. “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.”
The company, which provides the world’s smallest MEMS motion sensors, has been providing its products to businesses in the industrial and automotive industries for years. Since 2009, mCube has been able to expand its product line to include accelerometers and magnetic sensors.
It has shipped more than 60 million accelerometers into the China smartphone and tablet markets. In 2012, mCube was awarded the EE Times “Startup of the Year” prize in 2012 and named by Gartner as a 2013 “Cool Vendor.”