Ineda Systems Secures Additional Series B
SANTA CLARA, CA, Ineda Systems announced additional funding from Cisco Investments to bring the round of Series B funding to a total of $19M.
Ineda Systems, a developer of low-power SoCs (system on a chip) for use in the fast-growing wearables and Internet of Things (IoT) market segment, today announced additional funding from Cisco Investments to bring the round of Series B funding to a total of $19M.
Cisco Investments joins existing investors Samsung Catalyst Fund, Qualcomm Ventures, and Imagination Technologies, among others. The funding will be used by Ineda to further develop its Dhanush family of Wearable Processor Units (WPU).
'Ineda's Dhanush WPU is specifically tailored to meet the stringent power and performance needs of the wearable and IoT markets,' said Babu Mandava, CEO of Ineda Systems. 'Current devices do not have the necessary capabilities to allow for ultra-low power and high performance. Ineda's ground-up architecture is optimized for long battery life, along with the scalable performance that is required to run the various applications in the wearable and IoT space. This will enable device manufacturers to deliver products that exceed end-user expectations and accelerate market adoption.'
'The Internet of Things represents a huge opportunity to transform the way that people interact with technology,' said Kip Compton, vice president, Internet of Things Systems and Software Group, Cisco. 'Ineda Systems' innovative architecture allows for the delivery of high-performing, yet ultra low-power devices that are ideal for the wearable and broader IoT markets.'
About Ineda Systems
Ineda Systems, Inc. (pronounced 'E-ne-da') is a startup company founded by industry veterans from the United States and India with an ultimate goal of becoming a leader in developing low power SoCs for use in both consumer and enterprise applications. The advisory and management team has world-class experience working in both blue chip companies as well as fast-paced technology startups. Ineda's expertise is in the area of SoC/IP development, architecture and software that is necessary to design silicon and systems for next generation of low power consumer and enterprise applications.
The company has offices in Santa Clara, California, USA and Hyderabad, India.
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