MEMS Drive Finds $11M

Pasadena-based MEMS Drive, which is developing micro-electro-mechanical system (MEMS) stabilization actuators for smartphone cameras, has raised $11M in a Series B funding round. The funding was led by Walden International. The company said the new funding will help it ramp production of its MEMS systems, which are used in smartphones to provide image stabilization in cameras. MEMS Drive's CEO and co-founder is Colin Kwan. The company also has operations in Shenzhen, China; Hong Kong; and Taiwan. More information »