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Atmosic gets boost toward first product launch
Atmosic Technologies has completed its Series B funding, with USD 28.5 million raised, in anticipation of its upcoming inaugural product launch.
Founded in 2016, the fabless Silicon Valley semiconductor company designs and develops battery-free IoT devices including beacons, controllers, remotes, and fitness trackers. The round was led by Sutter Hill Ventures, with additional investments from Clear Ventures, Walden International, Dolby Family Ventures, and Arden Road Investments, and brings the total amount of funding raised to USD 49.5 million since the company’s inception, according to a press release. The latest injection of funding will be put toward the launch of Atmosic’s M2 and M3 series Bluetooth 5 system-on-a-chip (SoC) solutions for commercial products in early 2020, as well as support R&D and business scalability as a supplier of the ultra low-power consumption wireless technologies for the IoT. Atmosic CEO David Su said, “We look forward to continuing our investment in R&D as we develop wireless solutions for the next generation of the IoT, driven by our vision to eliminate the use of batteries. Our groundbreaking technologies will reduce the costs of IoT deployment and maintenance, while also helping to solve the serious environmental issue of battery waste. This latest round of funding will help accelerate our growth, both domestically and internationally, enabling us to better support our strategic customers in the United States and greater Asia as we bring our M2 and M3 solutions to the market.” “Battery life and power management are the biggest hurdles for the adoption of connected devices and the expansion of IoT deployments. Atmosic’s disruptive technology breaks those barriers, enabling the development of battery-free and forever-battery devices – something that not too long ago would have seemed impossible,” said Rajeev Madhavan, founder and general partner at Clear Ventures and member of the Atmosic board of directors.
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