Australian technology developer Morse Micro has raised AU$140m (US$95m) for its low power WiFi technology in a strategic deal with a Japanese ASIC designer.
The $140m Series B funding round was led MegaChips, a leading ASIC and SoC services company based in Japan, with participation from existing investors including Blackbird Ventures, Main Sequence Ventures, Clean Energy Finance Corporation, Skip Capital, Uniseed, SpringCapital, Malcolm and Lucy Turnbull and others.
Morse Micro intends to use the capital raised to design more chips and modules using its sub-GHz WiFi HaLow technology. Operating below 1GHz enables wirelessly connected devices to achieve a range of 1km, covering 100x the area or 1000x the volume of traditional WiFi networks with battery-backed power. The company has offices in China, India, Cambridge, UK and the US.
The strategic business partnership will see MegaChips, based in Tokyo, manufacturing Morse Micro’s IEEE 802.11ah compliant semiconductors and modules as well as providing quality assurance, sales support and new distribution channels across the Asia-Pacific region. The two companies will also engage in joint sales and promotion activities to grow the market for Wi-Fi HaLow.
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“With MegaChips’ financial backing and robust manufacturing and sales support, Morse Micro will be poised to achieve our goal of revolutionizing IoT connectivity with our growing portfolio of Wi-Fi HaLow SoCs, modules, software and development tools,” said Michael De Nil, co-founder and chief executive officer at Morse Micro. “With growing market traction for Wi-Fi HaLow-compliant solutions in the IoT ecosystem, we’re at an exciting inflection point. MegaChips shares our vision to revolutionise connectivity and build enduring Wi-Fi HaLow solutions for the future. We are delighted to partner with them, and for the support we’ve had from all of our investors, as we take the next step forward in our company’s journey toward market scale and leadership.”
“MegaChips pursues strategic partnerships and investments with promising startups like Morse Micro that have innovative ideas, cutting-edge applications and are expanding their businesses in areas such as industrial IoT, wireless communications and energy control,” said Tetsuo Hikawa, President and CEO of MegaChips Group. “Morse Micro’s visionary management team has had a tremendous impact on the Wi-Fi industry, and we expect more great accomplishments to come as we work together to ramp production and sales of their flagship Wi-Fi HaLow products.”
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