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Ambiq Micro Closes $2.4 Million Seed Round For Efficient Micro-controllers

November 9th, 2010 11:58 admin Leave a comment Go to comments

DFJ Mercury led a seed investment round of $2.4 million in Ambiq Micro, the companies announced today. Ambiq has designed and manufactures durable, highly efficient micro-controllers that can be used in everything from smoke and temperature sensors in smart buildings, to smart credit cards and smart phones.

In a press statement, Ned Hill the managing director of DFJ Mercury said:

“[We are] excited to support Ambiq Micro in its efforts to bring world-class ultra-low power micro-controllers to market…Ambiq provides proven technology that enables new products where the requirements for significant battery life extend far beyond the capabilities available today.”

The company was founded at the University of Michigan by Dennis Sylvester and David Blaauw, professors of electrical engineering and computer science at the University’s College of Engineering, and Scott Hanson, a post-doctoral Fellow at the College of Engineering who is the company’s chief executive.

Ambiq Micro practically swept the university business plan competition circuit in the 2009-2010 academic school year.

It won a $250,000 prize on July 1, 2010 from Draper Fisher Jurvetson (DFJ) and Cisco as part of a co-sponsored Global Business Plan Competition for university and business school students. Before that, Ambiq won the Pryor-Hale Award for Best Business as part of the Institute’s Michigan Business Challenge in February 2009 and several others.

Ambiq Micro also attained a small (but undisclosed amount) of pre-seed financing from the University of Michigan’s Frankel Commercialization Fund, the first student-led pre-seed investment fund in the United States.

Source: Ambiq Micro Closes $2.4 Million Seed Round For Efficient Micro-controllers

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