Motion Engine Closes Seed Round of $1M
Montreal and Bromont - The Montreal start-up firm Motion Engine a member of the MiQro Innovation Collaborative Centre (C2MI), has completed a seed stage round of financing totaling approximately $ 1 million to continue the development of its proprietary next-generation motion sensing enabled systems technology. Angel investors from Canada, the United States and Asia participated in the round. The company also has successfully received financial support for the development of its inertial sensor technology and related intellectual property of $150,000. The IP commercialization funding is being provided by the C2MI through the Centres of Excellence for Commercialization and Research (CECR) program which has been established in order to play an important role in the development and commercialization of leading edge technologies that support the growth of the Canadian economy.
The founding president of Motion Engine, Louis Ross, is pleased to have reached the company’s current stage of development in less than a year. "We have chosen to settle in Quebec as it will clearly become an international center for the development of MEMS/microsystems and related software applications, especially in regard to motion-sensing enabled systems. A key enabler is the presence of a major research center for MEMS/microsystems - C2MI- which is becoming one of the world’s leading microsystems/MEMS R&D development facilities. The rise in smart phone usage and the growth of wearable electronics will represent the next wave of MEMS inertial sensor growth and will demand more robust, smaller, more integrated MEMS.”
The company’s proprietary technology promises to lead to an unprecedented cost, size, and function combination with the robustness to address several large-volume market segments. It also provides a platform to develop more complex electronics systems that incorporate a variety of MEMS and circuits.
For more information visit www.c2mi.ca and www.motionengineinc.com.
C2MI Motion Engine
Vincent Fortin Valérie Gonzalo
VP Business Development Communications and Public Relations
450-534-8000 x 1003 514-626-6976