PsiKick, the self-powering Internet of Things (IoT) systems company has announced it raising $16.5 million in Series B round of funding led by Osage University Partners along with existing investors New Enterprise Associates (NEA), the University of Michigan Investment in New Technologies (MINTS) and other individual angels.
Founded in 2012, PsiKick is a semiconductor startup dealing with highly disruptive technology for ultra-low power wireless SoCs for Internet of Things applications. The venture-backed startup’s systems remove the need for batteries that has stumped realization of the true potential of the Internet of Things. This technology looks at self-powered systems from multiple angles, bringing together energy harvesting nodes with overhauled wireless communication and ultra-low power radios.
Brendan Richardson, CEO of PsiKick said, “Prior to Series B, PsiKick created a platform of fundamental technologies for wireless devices that are entirely self-powered. We solved some pretty big challenges that have limited the reach of IoT devices and systems. Those building blocks include the world’s most efficient wireless connectivity, robust node computation and energy harvesting to enable a highly scalable batteryless IoT. This Series B financing will allow us to continue hiring leading IoT engineering talent and developing completely batteryless systems based on these fundamental technologies. We’re solving high impact problems that can’t be solved today.”
“We’ve been really impressed with PsiKick’s technology for some time now,” said Marc Singer, Managing Partner of Osage University Partners. “The company’s vision for the next wave of computing and the IoT is incredibly exciting and PsiKick’s self-powered wireless sensor systems will be fundamental to achieving the full promise of the IoT.”
Greg Papadopoulos, Venture Partner at NEA and PsiKick Board Member added, “We have looked at just about everything that has to do with ultra-low-power, self-powering, Internet of Things or batteryless. Most of it is incremental. PsiKick has made some fundamental breakthroughs that leapfrog what’s been done to date.”
Further to the funding round, Marc Singer will join PsiKick’s Board of Directors.