Telstra Super, Hesta, Hostplus, NGS, UniSuper and others bring total Series B funding to AU $170 million
Morse Micro, a fabless semiconductor company reinventing Wi-Fi for the Internet of Things (IoT), today announced an AU $30 million top-up of its Series B funding. TelstraSuper, HESTA, Hostplus and NGS (managed by Blackbird Ventures) and UniSuper (managed by Uniseed) participated in the round.
The investments demonstrate the commitment of Australia’s super funds to diversify their portfolios; building robust assets that will generate positive returns even in an uncertain market. The superannuation funds collectively manage over AU $275 billion in assets on behalf of working-age Australians. Morse Micro intends to use the capital raised to accelerate IoT connectivity; achieving unprecedented scale and demand for its Wi-Fi HaLow technology.
“We’re thrilled to have these distinguished institutional investors with us on the journey to revolutionise our digital future. The substantial investment from these leading superannuation funds demonstrates a belief in our vision to revolutionise IoT connectivity,” said Michael De Nil, co-founder and chief executive officer at Morse Micro. He continued, “Above all, this investment comes at a time when traction for Wi-Fi HaLow is growing, and Morse Micro is building enduring Wi-Fi HaLow solutions for the future. As part of our Series B round, this funding top-up is a cornerstone investment in our company’s journey toward market scale and leadership.”
Since its launch in 2016, Morse Micro has focused on long-range, low-power wireless connectivity. Today its portfolio includes the industry’s smallest, fastest and lowest power Wi-Fi HaLow compliant SoCs and modules. With use-cases that extend across the complete IoT ecosystem, from consumer to commercial, industrial to agricultural use, Morse Micro is enabling wirelessly connected devices to achieve 10x longer range, covering 100x the area or 1000x the volume of traditional Wi-Fi networks.
Robyn Denholm, operating partner at Blackbird Ventures, commented, “We continue to be impressed by the team at Morse Micro. From the very beginning Michael and Andrew have had an unwavering focus on building a great team and developing game-changing chips for the Wi-Fi HaLow revolution. We are extremely pleased to be able to further our support for Morse Micro on behalf of our investors.”
Visit AITechPark for cutting-edge Tech Trends around AI, ML, Cybersecurity, along with AITech News, and timely updates from industry professionals!