PsiKick Raises $16.5M Series B Round to Power a Batteryless Revolution in the "Internet of Things"
Santa Clara, CA, December 18, 2015 -- PsiKick, the self-powering Internet of Things (IoT) systems company, today announces a $16.5M Series B financing, led by Osage University Partners and joined by existing investors New Enterprise Associates (NEA), the University of Michigan Investment in New Technologies Fund (MINTS) as well as individual angels. This brings total funding raised by the Company to over $22M.
“Prior to Series B, PsiKick created a platform of fundamental technologies for wireless devices that are entirely self-powered,” said Brendan Richardson, CEO of PsiKick. “We solved some pretty big challenges that have limited the reach of IoT devices and systems. Those building blocks include the world’s most efficient wireless connectivity, robust node computation and energy harvesting to enable a highly scalable batteryless IoT. This Series B financing will allow us to continue hiring leading IoT engineering talent and developing completely batteryless systems based on these fundamental technologies. We’re solving high impact problems that can’t be solved today.”
“We’ve been really impressed with PsiKick’s technology for some time now,” said Marc Singer, Managing Partner of Osage University Partners. “The company’s vision for the next wave of computing and the IoT is incredibly exciting and PsiKick’s self-powered wireless sensor systems will be fundamental to achieving the full promise of the IoT.”
“We’ve looked at just about everything that has to do with ultra-low-power, self-powering, Internet-of-Things or batteryless,” said Greg Papadopoulos, Venture Partner at NEA and PsiKick Board Member. “Most of it is incremental. PsiKick has made some fundamental breakthroughs that leapfrog what’s been done to date.”
As part of the Series B financing, Marc Singer will join PsiKick’s Board of Directors.
About PsiKick
PsiKick, Inc., is a venture backed start-up pioneering wireless, self-powering IoT systems. These systems eliminate the dependence on batteries that has hobbled realization of the true potential for the Internet of Things. PsiKick’s technology approaches self-powered systems from multiple angles, combining energy harvesting nodes with overhauled wireless communication and ultra-low power radios. Leveraging technology developed at the University of Virginia and the University of Michigan, PsiKick has built a revolutionary solution for IoT systems. PsiKick is based in Santa Clara, CA with design centers in Charlottesville, VA and Ann Arbor, MI.
About Osage University Partners
Osage University Partners is a venture capital firm focused on investing in startups that are commercializing cutting edge university technologies. Osage partners with top research universities to invest in their most innovative startups, and Osage shares its investment profit with its partner institutions. The firm invests in both technology and life science companies at early and late stages of company development. Osage has partnered with over 80 universities and has invested in over 50 of their spinouts. Osage University Partners manages over $300 million across its funds and is part of a family of investment funds at Osage Partners, which is based in Philadelphia, PA. For additional information please visit: www.osageuniversitypartners.com
About NEA
New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With nearly $17 billion in cumulative committed capital since the firm’s founding in 1977, NEA invests in technology and healthcare companies at all stages in a company’s lifecycle, from seed stage through IPO. The firm’s long track record of successful investing includes more than 200 portfolio company IPOs and more than 320 acquisitions since its founding in 1977. In the U.S., NEA has offices in Menlo Park, CA; Boston, MA; New York, NY; Chicago, IL; and the Washington, D.C. metropolitan area. In addition, New Enterprise Associates (India) Pvt. Ltd. has offices in Bangalore and Mumbai, India and New Enterprise Associates (Beijing), Ltd. has offices in Beijing and Shanghai, China. For additional information, visit www.nea.com.
|
Related News
- Orca Systems Raises $5 Million in Series B Funding Round
- Tiempo, IP company with breakthrough ultra-low power asynchronous design technology, raises 5 million Euros ($7 million) in Series B funding
- Aeluros Raises $10M Series B Financing Round
- Chiplet Interconnect Pioneer Eliyan Closes $60 Million Series B Funding Round, Co-led by Samsung Catalyst Fund and Tiger Global Management to Address Most Pressing Challenge in Development of Generative AI Chips
- Celestial AI, the Creator of the Photonic Fabric Optical Interconnect Technology Platform, Raises $100 Million in Series B Funding
Breaking News
- Keysight, Synopsys, and Ansys Deliver Radio Frequency Design Migration Flow to TSMC's N6RF+ Process Node
- Siemens collaborates with TSMC on design tool certifications for the foundry's newest processes and other enablement milestones
- Leveraging Cryogenics and Photonics for Quantum Computing
- Kalray Joins Arm Total Design, Extending Collaboration with Arm on Accelerated AI Processing
- Credo at TSMC 2024 North America Technology Symposium
Most Popular
- Huawei Mate 60 Pro processor made on SMIC 7nm N+2 process
- Silicon Creations Reaches Milestone of 10 Million Wafers in Production with TSMC
- GUC provides 3DIC ASIC total service package to AI/HPC/Networking customers
- Analog Bits to Demonstrate Numerous Test Chips Including Portfolio of Power Management and Embedded Clocking and High Accuracy Sensor IP in TSMC N3P Process at TSMC 2024 North America Technology Symposium
- Alphawave Semi: FY 2023 and 2024 YTD Trading Update and Notice of Results
E-mail This Article | Printer-Friendly Page |