DUBLIN START-UP Movidia has secured more than $14 million (€10.5 million) in funding from a consortium of Irish and international investors.

The investment in the company, which develops computer chips for mobile phones, was led by Canadian venture capital firm Celtic House Venture Partners and Capital-E, a Belgian fund focused on investments in the semiconductor sector.

French fund Emertec Gestion, AIB Seed Capital Fund and Enterprise Ireland also contributed to the round.

Movidia is a fabless semiconductor company, which means its chips are manufactured by a third party. Movidia has an office in Hong Kong to be close to these manufacturers and chief operations office Paul Costigan has relocated there.

Asian handset makers were also likely to be the first customers for the chips, said co-founder and chief executive Sean Mitchell.

Mr Mitchell said the company had completed prototypes of its first product "which is working in silicon" and the new funding would enable it to get it into mass production.

Movidia's chip will enable video to be edited directly on a mobile phone and uploaded to the web. It is hoping to cash in on the growing demand for mobile social networking and will allow users upload videos to YouTube and other sites without first having to edit it on a PC.

The low-power chip enables video editing on the phone while a software element enables effects such as slow motion and super resolution zoom to be added in real time.

Movidia has 50 staff, 12 of whom are located in Dublin. It has eight staff at its office in Hong Kong and the remaining 30 work at a software development centre in Romania.

Movidia's board of directors will be expanded as a result of the investment, with Roger Maggs and Brian Antonen of Celtic House, Rudi Severijns of Capital-E and Jean-Philippe Gendre of Emertec Gestion all joining the extended board.