CAMPBELL — Atmosic Technologies, a developer of ultra-low-power wireless technology for Internet-connected devices, announced the completion of its Series B funding, raising $28.5 million. This investment, led by Sutter Hill Ventures – along with investments from Clear Ventures, Walden International, Dolby Family Ventures, and Arden Road Investments – brings the total amount of funding raised to $49.5 million since the company’s inception in 2016.
This new round of funding will be used to deploy Atmosic’s award-winning M2 and M3 series Bluetooth 5 system-on-a-chip (SoC) solutions into commercial products in early 2020. The funding will also support the company’s continued focus on R&D to develop its next generation solutions, and Atmosic’s efforts to scale the business as the supplier of the lowest-power consumption wireless technologies for the IoT (Internet of things).
“We look forward to continuing our investment in R&D as we develop wireless solutions for the next generation of the IoT, driven by our vision to eliminate the use of batteries. Our groundbreaking technologies will reduce the costs of IoT deployment and maintenance, while also helping to solve the serious environmental issue of battery waste,” said Atmosic CEO, David Su. “This latest round of funding will help accelerate our growth, both domestically and internationally, enabling us to better support our strategic customers in the United States and greater Asia as we bring our M2 and M3 solutions to the market.”
Atmosic is focused on driving the battery-free IoT revolution with its lowest-power Bluetooth and controlled energy harvesting technologies, leveraging multiple power sources for energy harvesting, including RF, photovoltaic, thermal, and mechanical. Atmosic’s M2 and M3 solutions enable extended battery life and even battery-free operation for IoT devices used for a wide variety of applications including asset tracking, smart homes, wearables, building automation, and medical devices. The company is committed to innovate and create new products that reduce the environmental impact of batteries and decrease the cost of battery maintenance, thereby benefitting the planet, consumers, and industrial users.
“With the surging growth of the connected devices market, we see an incredible opportunity for Atmosic’s solutions to play a pivotal role in addressing the market demand for wearables, sensors and other applications that require extended battery life,” said Stefan Dyckerhoff, managing director at Sutter Hill Ventures and member of the Atmosic board of directors. “At Sutter Hill we have been extremely impressed with Atmosic’s continued innovation and strong customer interest, and we are excited to double down on our commitment for the company’s next stage of growth.”
“Battery life and power management are the biggest hurdles for the adoption of connected devices and the expansion of IoT deployments. Atmosic’s disruptive technology breaks those barriers, enabling the development of battery-free and forever-battery devices – something that not too long ago would have seemed impossible,” said Rajeev Madhavan, founder and general partner at Clear Ventures and member of the Atmosic board of directors. “We’re proud to help Atmosic realize its vision of making the battery-free IoT revolution a reality, as the company uses this new round of funding to bring its products to market and drive adoption.”