Ineda Systems, a company building out a new type of semiconductor for the internet of things, has raised $17 million in second-round funding. The startup, which is also pursuing a data center chip design, raised the money from Walden-Riverwood Ventures, Samsung Catalyst Fund, Qualcomm Ventures, IndusAge Partners and others, including Imagination, whose MIPS CPUs are used in Ineda’s products.
Ineda Systems is announcing today it is developing a wearable processor with an always-on battery that can last a whole month. The company also said it has raised $17 million from big chip industry players. The aim is to supply chips for the multitude of devices that are coming with the new age of wearable computing and the internet of things. Hyderabad, India-based Ineda is designing its Dhanush chips from the ground up for wearable devices and the internet of things. That means the chips have to operate on as little electrical power as possible, thanks to a unique design. Investors include Walden-Riverwood Ventures, Samsung Catalyst Fund, Qualcomm, Indus Age, Imagination Technologies other existing investors.