Menlo Micro, a technology company, has raised $150 million Series C funding from Vertical Venture Partners and Tony Fadell’s Future Shape.
Menlo Micro plans to use the funds to expand the company’s domestic manufacturing and supply chain for Ideal Switch, the most disruptive technological innovation in the electronics industry since the advent of the transistor.
The company was spun off from General Electric’s venture capital subsidiary GE Ventures in 2016.
“Today’s funding milestone underscores the confidence our investors have in Menlo Micro’s transformative technology to fuel the electrification of everything and modernize the $100+ billion market for RF communications, power switching and protection devices in the 21 st century,” said Russ Garcia, Menlo Micro CEO.
“It will enable us to expand our manufacturing in the US and accelerate the development of our power roadmap to solve some of the world’s most pressing challenges,” he added.
Menlo Micro aims to create an energy efficient and sustainable world with its new class of electronic switches. Formed in 2016 after splitting from GE Ventures, Menlo Micro plans to increase its manufacturing in the future.
“The Ideal Switch is poised to replace every switch that distributes power. It is the most ubiquitous electrical component in the world – 20B are shipped each year. It’s simple, the Ideal Switch changes fundamental math on power delivery to cities, buildings, homes, and appliances from EVs to lights. It will cost less, last longer, act smarter, and lower climate-busting emissions thanks to its energy efficiency profile. Menlo Micro is one of the biggest technology disruptors of our generation,” said Tony Fadell, Nest founder and Principal at Future Shape.
The company also said that it is exploring potential manufacturing locations in California, New York, Texas and Florida.