mCube, a provider of MEMS motion sensors, announced this week the formation of a wholly-owned subsidiary, Ten Degrees, representing the first step towards the creation of an independent entity focused on indoor navigation. Ten Degrees claims that it has developed a core navigation engine that takes advantage of positioning information derived from the inertial sensors available in virtually all current smartphones, combined with Wi-Fi and Bluetooth signals, and indoor map information to synthesize an accurate indoor location. The company was officially established in April 2014 and is led by CEO Ramesh Raman.
"With this strategic move, Ten Degrees and mCube can focus on their unique market segments, while also benefitting from each company's technology development and expertise," said Ramesh Raman, CEO of Ten Degrees. "We look forward to delivering a solution that can easily and accurately guide users indoors, whether to an individual cubicle in an office building, to a specific item in a retail store, or to a room in a hospital, bringing users literally within arm's reach of their desired indoor location."
"Ten Degrees will be able to build an entire business around its navigation software engine, while allowing mCube to continue expanding its core business around the world's smallest MEMS motion sensors," said Ben Lee, President and CEO of mCube. "Ten Degrees comes out of the gate with an early competitive advantage by having access to mCube's years of proven software expertise in algorithms for sensors in smart devices, enabling the company to quickly deliver indoor navigation solutions to customers and partners."
"There are tremendous market opportunities for an accurate indoor navigation solution for mobile devices, and Ten Degrees is delivering what we believe to be one of the most accurate and robust solutions developed," said Wen Hsieh, mCube Co-founder and Chairman, and General Partner at Kleiner Perkins Caulfield and Byers. "By creating a focused and stand-alone company, Ten Degrees will be able to more easily realize its growth potential."
Ramesh Raman, who joined Ten Degrees as CEO in April 2014, has an operations background. Most recently, he spent six years at Amyris, a company in the renewable fuels and chemicals sector, where he helped develop various capabilities in taking that company from start-up to IPO. Ramesh's last role at Amyris was as Senior Vice President of Global Manufacturing and Supply Chain. Prior to joining Amyris, Ramesh was in the operations practice at management consulting firm McKinsey & Company.
In addition to Ramesh, Jobe Price, former Vice President of Software at mCube, has transitioned into the role of Chief Technology Officer of Ten Degrees.
Ten Degrees has offices in San Jose, California and Cedar Rapids, Iowa. mCube claims that it makes the smallest motion sensors in the world. According to the company, it aspires to be "the enabler for the Internet of Moving Things" by putting a MEMS motion sensor on "anything that moves" and improving the way consumers live and interact with technology. mCube has reportedly already shipped over 60 million units.
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