Ambiq Micro, a US-based provider of ultra-low power integrated circuits (ICs), has closed a $10m a series B funding round led by venture capital firm Austin Ventures, with participation by existing investors including UK-based semiconductor intellectual property company ARM, and venture capital firms Mercury Fund and Huron River Ventures.
Previously, in November 2010, ARM and technology company Cisco joined a $2.4m seed round of funding for Ambiq Micro after it won a business plan competition.
Mark Foley, chief executive officer and president of Ambiq Micro, said: “As more and more markets are demanding devices that are mobile, portable or remote, batteries and low power ICs become essential enablers for business. With this investment round, we will proliferate our SPOT (Subthreshold Power Optimized Technology) platform-based products to these emerging low-power markets and applications.”
Clark Jernigan, venture partner, Austin Ventures, said: “Austin Ventures expects Ambiq Micro products to have a major impact in many high-growth applications. Long life will be the driving factor behind consumer acceptance of new networked, battery-operated devices.”