Tech firm boost to create 100 jobs
Up to 100 jobs are to be created in Ireland at a home-grown company developing cutting-edge technology that transforms how computers see the world.
In what is believed to be one of the largest venture capital investments in an Irish tech start-up, private investors have pumped 38 million euro into Movidius to help it expand.
The company, set up by Sean Mitchell and David Moloney in Dublin in 2005, makes vision processors which allows smartphones, drones and virtual reality devices recognise people and places.
Taoiseach Enda Kenny said the "impressive" investment would lead to "high quality jobs being created in Ireland and will boost Irish exports in the growing computer vision technology sector."
Movidius believes the growth of the "Internet of Things" - billions of connected devices that can visually sense the world to be installed globally over the coming years - will increase demand for its technology.
Over the last two years, it has set up new offices in Silicon Valley, in California. As well as its Dublin operation, it also has a design centre in Timisoara in Romania.
Movidius technology is already being used by Google's Project Tango smartphones and tablets which map the world around them in 3D.
The company said it will use its multimillion-euro investment to to develop more software and hardware for virtual reality headsets, drones, home automation and wearable technology.
Jobs Minister Richard Bruton said: "Today's announcement that Movidius, a ground-breaking company operating at the cutting edge of global technology, is expanding in Ireland and creating 100 extra jobs here is a great example of what Irish companies can achieve."