Menlo Microsystems (Menlo Micro), the company responsible for re-inventing the electronic switch with its Ideal SwitchTM technology, has announced the successful closure of it new $44 Million Series B funding round. The round was led by 40 North Ventures alongside San Francisco-based Piva, leading global investor Paladin Capital Group, Vertical Venture Partners, and Tony Fadell’s Future Shape. This round brings Menlo Micro to $78 million in total funding to date.
Menlo Micro is also backed by Corning and Microsemi. Following more than 12 years of research at General Electric, Menlo Micro was co-founded by CTO Chris Keimel and SVP of Worldwide Marketing Chris Giovanniello. Semi-conductor industry veterans, CEO Russ Garcia and SVP Operations Jeff Baloun, helped to productize the technology and scale the company. Today, Menlo Micro has created an entirely new switch category that is bringing massive reductions in size, weight, power and cost to multiple industries.
“This is a major milestone for Menlo Micro and the deployment of the Ideal SwitchTM, which we firmly believe to be the most important technological innovation in the electronics industry since the transistor,” said Russ Garcia. “This round of financing will enable us to significantly accelerate our product development and the scaling of our production lines. It is an incredible validation that our investors are standing behind our truly disruptive technology and our team at a time of so much uncertainty around the world.”