MEMS firm Vesper raises $8 million to pursue new markets
Vesper was founded in 2009 with plans to disrupt a massive market for MEMS microphones. It wanted to do this with piezoelectric microphone technology that offered a high signal-to-noise ratio.
The company has made several iterations of MEMS microphones but is now also planning to use its piezoelectric technology to go after new markets.
The funding round was led by Applied Ventures but included funding from Accomplice, Amazon Alexa Fund, Bose Ventures, Sands Capital, and other undisclosed investors. The round brings Vesper’s total funding to date to $65 million.
The company said that the money would enable the increased mass production of its existing microphone products and expand R&D and customer support. “This latest round of financing will enable Vesper to accelerate the technology platform transition from capacitive to piezoelectric MEMS architectures,” said Matt Crowley, CEO of Vesper, in a statement.
The overall MEMS microphone market is expected to grow from $1.2 billion in 2019 to reach about $1.7 billion in 2025, according to market analysis firm Yole Developpement.
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