Austin-based chip designer Ambiq Micro, which has been a pioneer in ultra-low power solutions for wireless electronics, has raised $11.4 million, according to a securities filing.
The money is part of a planned $20 million offering, according to a filing with the U.S. Securities and Exchange Commission.
The company received the funding from 23 investors, according to the filing.
Ambiq Micro representatives could not be immediately reached for comment.
Ambiq Micro’s technology dramatically cuts the energy consumption of semiconductors by reducing the voltage level at which switching occurs inside the chips. That enables the development of products such as wearable electronic devices that demand longer-lasting battery power.
For consumers, that means battery life for a smart watch or activity tracker that could last for weeks or months longer than previously possible.
Ambiq Micro’s roots go back to the University of Michigan, where engineering graduate fellow Scott Hanson worked with two professors to develop Ambiq Micro’s design.
Hanson spun the company out of the university in 2010 and moved it to Austin because of the availability of chip engineering talent in Central Texas.
Hanson is now the company’s chief technology officer.
In total, Ambiq Micro has raised more than $92.4 million since its inception, according to Crunchbase, a database operated by technology website TechCrunch.
In recent funding rounds, Ambiq Micro has not disclosed its investors. But in 2014, the company announced a $15 million infusion from venture firms including Kleiner Perkins, Austin Ventures, Mercury Fund, ARM Holdings and Huron River Ventures.
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