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Keytone Ventures joins $37m Series C for producer of world’s smallest motion sensors

27 Jun 2014

money-437272-mKeytone Ventures and Korea Investment Partners are new investors in a $37m Series C round for motion sensor maker mCube.

Kleiner Perkins Caufield & Byers, MediaTek and DAG Ventures laid down repeat investments for the company which makes some of the world’s smallest microelectromechanical sensors (MEMS).

mCube says it will use the funds to accelerate its growth and expand its product line.

Manufacturing MEMS is a profitable part of the industry as they are a are key component in consumer, mobile and wearable devices, including smartphones.

The use of the sensors can be expanded to virtually anything that moves according to mCube, such as smart watches, wearable devices and smart clothing that can detect how far the wearer has travelled, the rate at which they moved, and how many calories they burned.

Analysts predict that by 2020 more than 50 billion devices will be connected to the internet and a large percentage of those devices will be in motion and therefore require MEMS.

Keytone Ventures helped social gaming network company PapayaMobile secure $18m in a Series B funding round in 2011.

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