Menlo Micro has been working on its Ideal Switch for 12 years. As Ideal Switch production kicks off, Menlo Micro announced it’s secured $44 million in series B funding. 40 North Ventures led the funding round, but Piva, Paladin Capital Group, Vertical Venture Partners and Tony Fadell's Future Shape played a role. The money will help Menlo Micro ramp-up Ideal Switch mass production in 2021.
"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," said Russ Garcia, CEO of Menlo Micro.
The Ideal Switch represents a significant breakthrough in electronics, as it eliminates many of the issues current solid-state switches create. The Ideal Switch combines key benefits of solid-state and electromechanical technologies to provide users at least a 99% reduction in key system-level metrics, including performance, size, weight, power consumption and cost.