This article originally appeared on VentureBeat, September 9, 2016.
‘The partnership-driven model of our funding approach is carefully managed to build stable, long-term infrastructure and equity for high value,’ says HMicro Inc.’s founder and CEO
FREMONT, Calif.–(BUSINESS WIRE)–September 9, 2016–HMicro, Inc., a global company that creates system-on-a-chip biosensor platform technology for medical device manufacturers, today announced that it has closed $10.2 million in investment financing. Investors included dominant strategic OEM partners who will be commercializing HMicro-enabled products in health care markets. Existing investors XSeed Capital, Seraph Group, and Uniquest also participated in the financing.
“This strategic investment by new OEM partners who will be utilizing the HMicro’s chip solution technology in specific clinical applications, is a strong indication of confidence in the attributes of the system-on-a-chip as a powerful engine for wireless sensor solutions, as well as the capability of HMicro’s expertise and reputation as a co-development partner,” said Surendar Magar, Ph.D., founder and Chief Executive Officer of HMicro, Inc.
Michael Borrus, founding general partner of XSeed Capital added, “This news confirms our confidence in HMicro to leverage deep industry expertise in creating chip solutions that serve real clinical needs both now and in the future.” He added, “Strategic partners are already using HMicro’s unique technology platform to deliver new products and services that were not previously possible.”
Tuff Yen, founder and president of Seraph Group said, “We are passionate about the kind of health care innovation and focus that HMicro is bringing to the fore. We have supported HMicro from the outset.”
The proceeds from Series C financing will be used to fund the company’s continuing development and commercialization of HMicro’s biosensor platform that includes a proprietary chip having multi-sensor interfaces and multiple radios, disposable wireless patch and mobile and fixed location receiver devices.
“We are excited to expand our equity partnerships to firms who will be immediately leveraging our technology into their development initiatives and customer solution roadmaps. Migrating clinical healthcare to the wireless domain is a huge challenge which we believe is best met by pooling resources from committed supply and OEM partners. HMicro has subscribed to this business model from the outset and has accordingly defined its financing strategy. We will be announcing our relationships with various partners in the coming months,” said Magar.
Headquartered in Fremont, Calif., HMicro, Inc. began in 2008 to manufacture a new generation silicon-based wireless sensing platform and associated subsystem products for medical companies requiring highly-integrated, cost-effective modules for use in demanding medical sensing and data communication applications. HMicro delivers its solution as a platform including a purpose-built chip, biosensor patches, and receiver devices, which provide our customers fast time to market and are supported by a wide range of technical and manufacturing capabilities. Our wireless technology provides wired-class reliability in small form factors with exceptional energy efficiency at a low cost, a truly unique combination that enables our customers to develop distinctive and disruptive products. For more information, please visit www.hmicro.com.