News: Menlo Micro secures $150 Million in Series C funding

Funding & Investment

Menlo Micro secures $150 Million in Series C funding

Menlo Micro would use their funding to accelerate its ‘Ideal Switch’ technology and bring over $7 trillion in cost savings globally by 2050.
Menlo Micro secures $150 Million in Series C funding

Irvine, California based Menlo Microsystems, also known as Menlo Micro, has secured $150 Mn in Series C funding. The funding round was led by new investors Fidelity Management & Research Company, DBL Partners and Adage Capital Management along with existing investors, Standard Investments, Paladin Capital Group, Piva Capital, and PeopleFund.

Including the latest funding, Menlo Micro has so far raised over $225 million in capital. 

Menlo Micro will use the funding to expand the company’s domestic manufacturing and supply chain for their invention Ideal Switch and mass- produce it for the electrical industries.

Russ Garcia, Menlo Micro, CEO, said that the funding milestone underscores the confidence the 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 U.S. 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, modernize smart buildings and factories, and eliminate many of the inefficiencies in our legacy electrical infrastructure,” he added.

It would be interesting to see how the company manages the manufacturing of ‘Ideal Switch’ technology as the world looks for more AI solutions based processes ,  rendering conventional semiconductor equipment a thing of the past.

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Topics: Funding & Investment, Technology, #MergersAndAcquisitions, #Cybersecurity

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