Grand Angels Invests in Ambiq Micro $10 Million Series B FundingNovember 21, 2013
GRAND RAPIDS, Mich., Nov. 20, 2013 – Grand Angels, a Grand Rapids, Mich.-based investment group, today announced its fifth funding commitment of 2013, investing in Ambiq Micro, a leader in ultra-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.
Ambiq Micro, whose products are redefining the meaning of ultra-low power ICs, 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 fabless 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 a unique 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 nearly $13 million in 28 companies since its inception.
About Grand Angels
Grand Angels is committed to using its financial, intellectual, and networking capital to foster the success of emerging companies and to enhance the economic development of West Michigan. Grand Angels makes investments that have a positive effect on our region through business growth, job creation, and the attraction and retention of local talent. In addition to investing in primarily early stage companies, Grand Angels continues to be very active in its effort to create a climate for the success of entrepreneurs in West Michigan. Many of its members have served on panels, judged pitch competitions, and mentored entrepreneurs through organizations including the Accelerate Michigan competition, Hope Entrepreneurship Initiative, and Grand Valley State University Seidman College of Business Center for Entrepreneurship & Innovation. www.grandangels.org.
About Ambiq Micro
Ambiq Micro products are redefining the meaning of ultra-low power integrated circuits. The company’s proprietary SPOT design platform dramatically reduces energy consumed in standard CMOS chip designs to subthreshold levels – up to orders of magnitude below the power required in today’s traditional semiconductor product designs. Significantly increased battery life frees product designers to expand the features and functions incorporated in their products and exceed battery life requirements. Ambiq Micro’s products inherently change the design and use of energy critical products used in consumer, industrial, automotive and medical applications. Go to www.ambiqmicro.com for additional information about the company, technology and its products.