Grand Angels Invests In Ambiq Micro $10M Series B Funding
GRAND RAPIDS (WWJ) -- Grand Angels, a Grand Rapids-based investment group, announced its fifth funding commitment of 2013, investing in Ambiq Micro, a developer of low power integrated circuits. Grand Angels invested alongside venture capital firms Austin Ventures, ARM, Mercury Fund, Huron River Ventures and other investors in the $10 million Series B funding round.
Grand Angels said Ambiq Micro will use the funding to expand the company's SPOT (Sub-threshold Power Optimized Technology) design platform, accelerate new product development and expand worldwide market presence.
The semiconductor company is headquartered in Austin, Texas.
"The technology developed by Ambiq Micro is a behind-the-scenes innovation, but remarkable in its potential to impact the semiconductor industry," said Jody Vanderwel, Grand Angels President. "Ambiq was founded by a University of Michigan graduate and retains its research and development office in Michigan, and we're excited to put Michigan money to work in technology that will affect us all."
Ambiq Micro has developed technology that enables semiconductor products to run at extremely low voltage levels inside the chip, dramatically lowering the power required for chip operation. The external interface for product designers remains the same as today's traditional semiconductors, so no new design techniques or methods are required. Ambiq Micro products built on its advanced SPOT platform are manufactured using a standard CMOS high-volume, low-cost semiconductor process.
"As more and more markets are demanding devices that are mobile, portable or remote, batteries and low power ICs become essential enablers for business," said Mark Foley, CEO and president of Ambiq Micro. "With this investment round, we will proliferate our SPOT platform-based products to these emerging low-power markets and applications."
The company's SPOT platform technology can be applied to a wide range of semiconductors used in battery-life critical applications, such as the emerging wearable computing market, smart watches, wireless sensors, smart cards and low-power medical devices. Battery-powered products that previously lasted a few days on a single charge will be able to run for months or years when designed with Ambiq Micro products.
With this latest funding, Grand Angels has invested over $12.4 million in 26 companies since its inception.
More at www.grandangels.org.
