Dublin, Ireland - Movidia, a developer of mobile video processors, announced that it has raised over $14 million in its first round of financing, led by Celtic House Venture Partners and Capital-E.

Emertec Gestion, AIB Seed Capital Fund and Enterprise Ireland also participated in the round.

Ireland-based Movidia says its processors will enable user-generated video production functions for mobile phones and other consumer electronics, such as in-clip editing and post-production effects.

The company's first product is set to launch in early 2009.

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