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Bengaluru, March 10
Menlo Micro has raised $150 million in Series C funding from Vertical Venture Partners and Tony Fadell’s Future Shape, along with participation of Fidelity Management & Research Company, DBL Partners, Adage Capital Management, Standard Investments, Paladin Capital Group, Piva Capital and PeopleFund.
With this round, Menlo Micro’s total cumulative funding has reached over $225 million. Menlo Micro will use the funding to expand domestic manufacturing and supply chain for the Ideal Switch. Ideal Switch is a device that delivers all the benefits of a mechanical relay and a semiconductor switch. The Ideal Switch is said to be fast, reliable device that can withstand extreme temperatures, is ultra-low loss, and can handle 1,000 watts. Moreover, it is manufactured using conventional semiconductor equipment.
Menlo Micro says that 15 per cent of India’s electricity is used by ceiling fans and using efficient Ideal Switches can help save energy.
“Today’s funding milestone underscores the confidence our investors have in Menlo Micro’s transformative technology to fuel the electrification of everything and modernize the $100+ billion market for RF communications, power switching and protection devices in the 21st century. It will enable us to expand our manufacturing in the US and accelerate the development of our power roadmap to solve some of the world’s most pressing challenges. We’re positioned to enable the upgrade of the world’s aging power grids, modernise smart buildings and factories, and eliminate many of the inefficiencies in our legacy electrical infrastructure,” said Russ Garcia, Menlo Micro CEO.
“The Ideal Switch is poised to replace every switch that distributes power. It is the most ubiquitous electrical component in the world – 20B are shipped each year. It’s simple, the Ideal Switch changes fundamental math on power delivery to cities, buildings, homes, and appliances from EVs to lights. It will cost less, last longer, act smarter, and lower climate-busting emissions thanks to its energy efficiency profile. Menlo Micro is one of the biggest technology disruptors of our generation,” said Tony Fadell, Nest founder and Principal at Future Shape. .
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