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Energy Micro secures $13 million funding
Published:  19 March, 2010

Energy Micro has announced that it has secured an investment of $13 million from Northzone Ventures and Investinor in its first external funding round. The investment will be used to continue the development of Energy Micro's microcontroller product portfolio, to develop and bring to market a family of energy friendly radio products and to expand the organisation and sales channels to support future high growth.

Energy Micro launched its first product, the 32-bit EFM32 Gecko microcontroller family, in October 2009.  Consuming a quarter of the energy of existing 8-, 16- or 32-bit microcontrollers, the products have been used in energy sensitive application sectors, including energy metering, home and building automation, alarm and security systems and medical equipment.

Torleif Ahlsand, General Partner of Northzone Ventures, who joins Energy Micro's board of directors as Chairman, said: "Northzone has followed Energy Micro's progress for more than a year now, and I am very excited about the company's prospects.  Energy Micro is the first investment in our recently announced Northzone VI fund, and it gives us a tremendous start."

He continued:  "Energy Micro offers differentiated products and a technology promising a quantum leap in performance improvements and an outstanding management and engineering team."

Geir Førre, Founder and CEO of Energy Micro said: "Energy Micro had the enviable position to be able to choose from a number of top tier VCs who all wanted to invest in the company.  We believe our new investors will contribute significantly to the company's development and growth in the coming years."




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