Texas-based Ambiq Micro closed its Series B funding round with USD 10 million. Austin Ventures led the round. Ambiq Micro's existing investors ARM, Mercury Fund, Huron River Ventures and others also participated in the round. Ambiq Micro said it would use the funds to expand its flagship design platform and accelerate the development of new products. Part of the resources gathered would also be used to improve its market presence globally.
Ambiq Micro is a semiconductor firm specializing in ultra-low power integrated circuits (ICs). Its SPOT or Subthreshold Power Optimized Technology proprietary design allows semiconductor products to use only very low voltage levels as they run inside the chip. This results in lowered power requirements for chip operations.
Ambiq Micro CEO and President Mark Foley explained the importance of his company's product. "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 platform-based products to these emerging low-power markets and applications. AV is a perfect partner for us as it shares our vision for the rapid growth of the Internet of Things."
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