Qualtre, a company that supplies motion sensors, declared that they have successfully showcased the first-ever tri-axial solid-state silicon bulk-acoustic wave (BAW) gyroscope, to raise funds of the order of $10M in capital.
The new funds will help the company to launch this product, to expand supply chain infrastructure and sales, and to develop advanced products by implementing its proprietary HARPSS MEMS technology. The venture capital investors taking part in this round include Pilot House Ventures and Matrix Partners.
General Partner with Matrix Partners, Stan Reiss, stated that with the increase in use of motion sensors across several consumer electronics platforms, the demand for them is increasing exponentially. He added that increasing investment will allow the Qualtre team to speed up the productization of their latest technology and achieve quick penetration into the market.
MEMS gyroscopes are contributing to a high demand in the motion sensing market. By 2015, Yole Developpement updated their growth plans predicting a market growth of $1.5 billion or more for MEMS gyroscopes in consumer electronic applications. It is widely utilized in new platforms such as smart TV remote controls and tablets.
The CEO of Qualtre, Edgar Masri, stated that with the expansion of their engineering team and qualification of their partner network, they have made remarkable progress in commercializing the motion sensor technology.
Source: http://www.qualtre.com/