The Montreal-based semiconductor company specializing in wireless communications has raised $34 million in a funding round led by Idealist Capital.
This new funding will enable “the commercialization of energy-efficient transceivers for ultra-wideband wireless communications,” the company said in a statement Monday.
Specifically, these funds will be used to accelerate customer acquisition and partnership building, as well as product development in the key mobile electronic device and smart sensor markets.
In addition to this amount, an additional $14 million is available subject to the achievement of operational targets.
“With the support of Idealist Capital and existing investors, SPARK Microsystems is on track to realize its vision of creating high-performance wireless networks for a wide range of products with significantly longer battery lifecycles and less waste for a more sustainable and environmentally friendly future” said Fares Mubarak, CEO of SPARK Microsystems.
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