Walden backs MEMS actuator startup

October 25, 2016 // By Peter Clarke
Fabless chip company MEMS Drive Inc. (Pasadena, Calif.) has raised $11 million in a Series B funding round led by Walden International.

MEMS Drive, founded in 2014, develops, manufactures and markets MEMS actuators with a particular target application in mobile imaging where its fast responding devices can be used for optical image stabilization (OIS) for smartphone cameras.

The company's technology is based on an electrostatic comb drive. The company has not disclosed which foundry it is using for manufacturing.

Smartphone company Oppo Electronics Corp. (Dongguan, China) has already demonstrated a SmartSensor technology that is based on MEMS Drive. In March 2016 MEMS Drive announced that it is co-developing this technology with Oppo.

"We plan to use the funds to support customer deliveries and to work with our eco-systems partners to bring product to market," said Colin Kwan, CEO and co-founder of MEMS Drive, in a statement.