Movidius, the leading vision processor company serving the growing need for visual sensing in connected devices, has announced that it has raised €38 million in funding with the creation of up to 100 jobs in Ireland. This latest round of funding is one of the largest venture capital investments ever in Ireland for a technology company and the largest for a non-manufacturing semiconductor company in the past two years globally. Movidius will use the financing to further drive software and hardware product innovation in visual sensing for the next wave of emerging applications, including virtual reality headsets, drones, home automation and wearables. Its technology will transform how devices and users interact with the world around them through intelligent, vision-based technology. The growth of the Internet of Things, with billions of connected devices to be installed globally in the next several years, is accelerating the market for Movidius’ technology. This financing will enable Movidius to continue to work with its partners to fuel innovation and business growth in visually intelligent devices. In the last two years, Movidius has established offices in Silicon Valley, continued to scale its R&D team, appointed new members to its Technical Advisory Board, collaborated with new customers and partners, such as Google for its Project Tango device, and launched the next generation of its vision processor for mobile and connected devices. “Movidius has pioneered an entirely new class of cost-effective, low power and high performance processors, software and development tools, and this platform enables our customers to implement visual sensing that aims to mirror human vision capabilities,” said Remi El-Ouazzane, CEO of Movidius.“This significant investment of capital provides us with the resources to expand strategically, innovate constantly and extend our market leadership.”