Austin—Ambiq Micro, which makes energy-efficient chips and sells them internationally, has raised $11.4 million in an equity funding round, according to a securities filing. The company may raise up to $20 million, the filing says.
Austin, TX-based Ambiq sells low-powered microcontrollers to companies such as Huawei Technologies and Fossil Group (NASDAQ: [[ticker:FOSL]]) for Internet of Things products like fitness trackers and smart watches. The company was founded almost eight years ago at the University of Michigan.
Ambiq applies a type of circuit design, known as sub-threshold design, to microprocessors, which limits the amount of power they use, Scott Hanson, founder and chief technology officer, told Xconomy in December. The company’s technology allows microprocessors to fine-tune the voltage levels that a battery releases, which creates an exponential energy reduction, Hanson said.
In 2017 and early 2018, Ambiq raised about $34 million, which it has been using to develop fourth- and fifth-generation microprocessors to sell to clients, as well as to pursue businesses with products in the smart home, smart sensor, and smart credit card markets internationally, Hanson said last year. Hanson hasn’t responded to an e-mail request for comment, but we’ll update when he does.
