Nowi Reaches $14 Million in Funding for Energy Harvesting PMICs
Investors from Disruptive Technology Ventures (DTV) announce a substantial additional Series A investment round for semiconductor firm Nowi. Having closed a new $10 million funding round, Nowi has now reached $14million in total funding for its energy harvesting power management ICs (PMICs).
Initial DTV funding in March 2018 in conjunction with Dutch government backing enabled Nowi to reach several key milestones towards commercialization of its unique patented energy harvesting power management integrated circuit. Pushing past established competitors such as Texas Instruments, Analog Devices and others with a novel multi patented process, Nowi is now readying commercial release for 2020.
Investors from DTV have confirmed a new fund to accelerate commercialization of Nowi's semiconductor.
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Ad Scheepbouwer "DTV has an investment philosophy that centers around disruptive and enabling technologies that address global markets. Nowi's energy harvesting fits seamlessly in this profile. Over the last two years we have seen them grow the team to a professional organization, their commercial efforts have created a highly promising sales funnel and the technology has transitioned from an interesting technology to a mature product. As such, DTV is very excited to take the lead in this new round of funding and support them as this technology is commercialized globally."
Menno van de Marel: "Connecting millions of devices presents all sorts of problems that do not play a part on smaller scales. Particularly as different applications will have their own distinct set of challenges. Part of what has excited DTV to lead the new round of investment in Nowi is how their technology is able to address some of the challenges that very diverse IoT, consumer and semiconductor applications all share. Size and cost are always determining factors in economic feasibility of an application and even more so due to the high volume and low price points of products in these markets.
Compared to all other PMIC alternatives on the market Nowi has been able to decrease the PCB assembly footprint by 97% and reduce the BOM cost by $1 per device, while still having top efficiency performance."
Simon van der Jagt (CEO of Nowi): "This new $10m series A round of funding enables Nowi to further grow the team and complete the transition from start-up to a mature organization, while still retaining a majority position in the company. As we launch our first NW-A2.3 Energy Harvesting PMIC product in the first half of 2020 we will further expand our commercial activities. This also enables collaborations with partners with a longer time horizon."