Microprocessor startup Ambiq Micro lands investment from University of Michigan's Frankel Fund

Ambiq Micro, an Ann Arbor-based University of Michigan startup developing energy-efficient microprocessor technology, landed an investment from a venture capital fund led by U-M students.

The Frankel Commercialization Fund, part of the U-M Ross School of Business' Zell Lurie Institute for Entrepreneurial Studies, invested an undisclosed amount in Ambiq Micro.

Ambiq Micro co-founders Scott Hanson (left) and David Blaauw say the company's microcontroller technology is significantly more energy efficient than technology currently available on the market.

Nathan Bomey | AnnArbor.com

It marks another nod of approval for Ambiq Micro, which this summer secured a $250,000 investment by winning the Global Business Plan Competition run by tech giant Cisco Systems and California venture capital firm Draper Fisher Jurvetson.

The firm's technology, developed over several years at U-M's College of Engineering, aims to improve the power performance of wireless electronics that spend most of their time in "sleep mode." It could have applications in a variety of devices with extremely small sensors, including next-generation credit cards, implanted devices and high-tech pharmaceutical labels.

The Frankel Fund provides pre-seed investments in funding rounds no larger than $100,000. Student investors from U-M have made several successful investments in recent years. They compete for deals with venture capitalists from the private sector.

Two of the fund's student partners, Phillip O'Niel and David Landman, helped Ambiq Micro CEO Scott Hanson launch the company, U-M said.

"This investment comes at a critical time for the company and will be essential in helping us to move quickly to capitalize on our opportunity,” Hanson said in a statement. “The support, networking and mentorship provided by the Frankel Fund have been critical in translating our ideas into a winning business plan, and now in helping Ambiq Micro to demonstrate its technology to customers.”

Contact AnnArbor.com's Nathan Bomey at (734) 623-2587 or nathanbomey@annarbor.com. You can also follow him on Twitter or subscribe to AnnArbor.com's newsletters.

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