PsiKick has announced a $16.5M Series B financing, led by Osage University Partners and joined by existing investors New Enterprise Associates (NEA), the University of Michigan Investment in New Technologies Fund (MINTS), as well as individual angels. This brings total funding raised by the Company to over $22M.
Prior to Series B, PsiKick created a platform of fundamental technologies for wireless devices that are entirely self-powered, said Brendan Richardson, CEO of PsiKick. We solved some pretty big challenges that have limited the reach of IoT devices and systems. Those building blocks include the worlds 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. Were solving high impact problems that cant be solved today.
Weve been really impressed with PsiKicks technology for some time now, said Marc Singer, Managing Partner of Osage University Partners. The companys vision for the next wave of computing and the IoT is incredibly exciting and PsiKicks self-powered wireless sensor systems will be fundamental to achieving the full promise of the IoT.
Weve looked at just about everything that has to do with ultra-low-power, self-powering, Internet-of-Things or batteryless, said Greg Papadopoulos, Venture Partner at NEA and PsiKick Board Member. Most of it is incremental. PsiKick has made some fundamental breakthroughs that leapfrog whats been done to date.