Osage University Partners and Mints, a University of Michigan venture fund, both invest in Psikick.
Psikick, a US-based company that produces low power wireless technology, has closed Series A financing round for an undisclosed sum.
The funding round was led by New Enterprise Associates (NEA) and saw participation from Osage University Partners and Mints, a University of Michigan venture fund. This funding adds to angel investment from a group of investors in Charlottesville.
Greg Papadopoulos and Forest Baskett of NEA will join Psikick’s board of directors.
Brendan Richardson, Psikick co-founder and chief executive, said: “Psikick’s technology is truly ground-breaking, and we are thrilled to partner with NEA as we build on that foundation. Greg and Forest bring tremendous depth of expertise at a key time in the company’s growth—they know the technology, they know the market, and they have a tremendous track record of building truly innovative, industry-leading companies.”
Psikick’s ultra-low-power wireless systems-on-chip are capable of operating on less than one hundredth of the power of other integrated circuit platforms. Their energy efficiency enables them to be continuously and entirely powered from harvested energy sources such as vibration, thermal gradients, solar, radio frequency (RF) or piezo actuation.
Greg Papadopoulos, venture partner at NEA, said: ““Brendan and his team are integrating the state-of-the-art in ultra-low power processing, power management and next-generation wireless concepts to produce a novel ultra-low-power system. The resulting platform is a stunning technological achievement and a gateway to the next wave of wearable devices.”
