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SPARK Microsystems Announces CDN$17.5 Million Financing Led by Cycle Capital to Drive Commercialization


Business leaders Dr. Sanjay Okay. Jha and Paul Jacobs invested within the spherical

MONTREAL, Feb. 16, 2021 /PRNewswire/ – SPARK Microsystems, a fabless semiconductor firm main the way in which in ultra-low energy, ultra-low latency wi-fi communications, pronounces the closing of a CDN$17.5 million fairness financing to speed up commercialization. Led by Cycle Capital, the spherical included new buyers ND Capital (a Silicon Valley and Europe-based enterprise capital agency devoted to disruptive applied sciences) and Export Growth Canada, in addition to current investor Actual Ventures and personal buyers. Proceeds will probably be used to fund high-volume manufacturing, gross sales ramp and expanded R&D for subsequent technology merchandise.

Business veterans Dr. Sanjay Okay. Jha and Dr. Paul Jacobs reinvest in SPARK Microsystems
Former Qualcomm CEO Paul Jacobs and former GlobalFoundries CEO Sanjay Okay. Jha, each reinvested within the firm as a part of the spherical.

Dr. Sanjay Okay. Jha is the previous CEO of GlobalFoundries Inc., the second largest semiconductor contract producer on this planet. Previous to that, he was the Chairman and CEO of Motorola Mobility Inc., a task he held till the acquisition of the corporate by Google in 2012. Earlier than Motorola, Sanjay labored at Qualcomm for 14 years, ending his tenure there because the COO of Qualcomm, and President of Qualcomm CDMA Applied sciences (QCT), the CDMA & computing chipset and SW division of Qualcomm. Sanjay holds a PhD (ECS), and D.Sc (Hon) from the College of Strathclyde in Scotland, UK. In 2018, he was elected into the US Nationwide Academy of Engineering. He’s an investor and board member of quite a few personal expertise firms.

Dr. Paul E. Jacobs is the previous CEO and govt Chairman of Qualcomm. Throughout his tenure as CEO, Qualcomm’s revenues quadrupled and its market capitalization doubled.  Dr. Jacobs is a prolific inventor with over 80 U.S. patents granted or pending within the subject of wi-fi expertise and gadgets. He’s a board member of quite a few personal expertise firms. He based Berkeley’s Jacobs Institute for Design Innovation and was the college’s 2017 Alumnus of the 12 months.  Dr. Jacobs is a member of the Nationwide Academy of Engineering and a Fellow of the American Academy of Arts and Sciences.

At the side of the financing, Cycle Capital’s Senior Associate Amit Srivastava additionally joins the Board of Administrators. Earlier in his profession, he led enterprise capital investments within the electronics sector at JP Morgan Companions and held key advertising and engineering administration positions at Texas Devices.

Lately, SPARK launched the SR1000 ultra-wide band (UWB) wi-fi transceiver ICs enabling a brand new class of short-range wi-fi connectivity purposes together with gaming peripherals and AR/VR headsets, good dwelling gadgets, and battery-less web of issues sensors. Inside 9 months after the launch announcement, SPARK Microsystems:

  • Shipped tens of 1000’s of pre-production items to a number of clients
  • Prototyped a next-generation wi-fi gaming hub with headset, mouse and keyboard at the side of a Tier 1 ODM associate
  • Offered over 70 analysis kits to firms designing wi-fi AR, VR, IoT and positioning merchandise
  • Delivered paid SoWs for superior wi-fi merchandise to a number of Fortune 100 firms

QUOTES
“In simply 4 years for the reason that Ecofuel Acceleration program, SPARK Microsystems was capable of ship a revolutionary low-power wi-fi answer to clients,” stated Andrée-Lise Méthot, Founder and Managing Associate of Cycle Capital and Chair of the Ecofuel Accelerator. “Cycle Capital invests in firms which have a significant influence on local weather change. We imagine that SPARK won’t solely allow battery-less networks and dramatically reduce energy consumption throughout a variety of rising wi-fi purposes but additionally cut back digital waste going to landfills.”

“We’re excited by the fast buyer adoption of the SPARK answer,” stated Sanjay Jha,  former CEO, GlobalFoundries and energetic investor. “The corporate engaged with a number of clients who will deploy thousands and thousands of wi-fi gadgets within the coming years. SPARK’s expertise considerably extends battery life for varied Industrial IoT and shopper electronics together with AR/VR, gaming and audio purposes – enabling for brand new functionalities in addition to improved efficiency.  This financing places SPARK in a powerful place to satisfy the quantity manufacturing necessities of these clients.”

“We’re more than happy to have obtained this robust monetary backing from Cycle Capital, in addition to new and current buyers,” stated Fares Mubarak, CEO, SPARK Microsystems. “This funding, coupled with a few years of excellent technical and operational management from the brand new Board members will assist speed up the commercialization of our UWB transceiver merchandise into high-volume manufacturing and higher place us to execute our development technique and develop in key markets.”

“We’re excited to see our dream of making such a differentiated wi-fi expertise to handle many markets and develop the usability of wi-fi gadgets taking form.” stated Dr. Frederic Nabki, Cofounder and CTO, SPARK Microsystems.

About SPARK Microsystems
SPARK Microsystems, a fabless semiconductor firm, commercializes ultra-low energy and ultra-short latency wi-fi platform for the Web of Issues revolution. The corporate was based in 2016, now employs 40 folks in Montreal and within the US, and anticipates doubling in dimension over the following 18 months together with including 15 gross sales and utility engineers. SPARK Microsystems was elected one of many “10 Startups within the Highlight” on the newest EETimes Silicon 100 checklist, obtained the 2019 Protection Innovation Award at TechConnect., and received the 2018 Nokia Open Innovation Problem. For more information: sparkmicro.com

About Cycle Capital Administration
Cycle Capital Administration is an influence investor and Canada’s main cleantech enterprise capital funding platform with AUM (property beneath administration) of CDN$0.5 Billion. With workplaces in Montreal, Toronto and Qingdao – in continental China – and a presence in New York and Seattle, CCM invests all through North America and China in development stage firms that commercialize applied sciences that cut back greenhouse fuel emissions, optimize useful resource use and enhance course of effectivity. Cycle Capital is the Founding father of the Ecofuel Accelerator. For information: cyclecapital.com

For extra info:
Fares Mubarak
CEO
SPARK Microsystems
[email protected]
+1-925-998-7330

Catherine Bérubé
VP Sustainability, Investor Relations and Public Relations
Cycle Capital
[email protected]
+1-514-629-1022

SOURCE SPARK Microsystems Worldwide



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