Ambiq Micro collects $2.4m in seed funding after winning Cisco and DFJ-run business competition.

Technology companies ARM and Cisco have joined the $2.4m seed round of funding for Ambiq Micro after it won a business plan competition in the summer.

DFJ Mercury, a technology-focused seed and start-up venture capital (VC) firm affiliated to the Draper Fisher Jurvetson network, led the round.

DFJ and computer server group Cisco picked Ambiq as the $250,000 winner from 16 finalists in their second co-sponsored Global Business Plan Competition for university and business school students. (See the…