Menlo Micro has today announced that it has raised $44m in a Series B funding round to scale up production of its Ideal Switch technology, a “revolutionary” hardware component.
The funding round was led by 40 North Ventures, with additional investment in Menlo Micro coming from Paladin Capital Group, Vertical Venture Partners, Future Shape and Piva. It brings the total raised by the company to date to $77m.
The funding will enable it to significantly accelerate the production and rollout of its Ideal Switch technology, which it describes as the “most revolutionary electronic component since the transistor”.
A new category of switch, it promises significant reductions in weight, power, size and cost, with applications across a host of industries.
Blending electromechanical and solid-state technologies, it has potential for benefits in consumer telecoms, including in handsets, 5G infrastructure, satellites and Wi-Fi, as well as radio improvements for defence, government, radar and commercial communications.
“For 40+ years, the industry has been searching for a switch that has the perfect combination of the electromechanical relay and the silicon transistor,” explained Tony Fadell, founder of Nest and principal at investor Future Shape.
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“Menlo Micro’s Ideal Switch is a tiny, efficient, reliable micro-mechanical switch with unmatched RF-performance and, counterintuitively, high-power handling of 1,000s of Watts.”
Menlo Micro funding sees company poised to transform industry
For Menlo Micro, the funding provides the foundation for dramatic industry success, allowing it to ramp up production with an expanded production line with significantly increased capacity.
This will enable it to produce 100,000 units a month by the end of this year, and move production into the millions per month in 2021.
“This is a major milestone for Menlo Micro and the deployment of the Ideal Switch, which we firmly believe to be the most important technological innovation in the electronics industry since the transistor,” said Russ Garcia, CEO of Menlo Micro.
“This round of financing will enable us to significantly accelerate our product development and the scaling of our production lines. It is an incredible validation that our investors are standing behind our truly disruptive technology and our team at a time of so much uncertainty around the world.”