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.
Nathan Bomey | AnnArbor.com
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.
Comments
DeeDee
Wed, Sep 1, 2010 : 10:03 a.m.
Somewhat, take a chill pill - max round is $100K - that tell you all you need to know. Also, FF is definitely not a "slush fund" for students, they do an INSANE amount of due diligence, and have invested in several non-UM spinouts. Ross School/ZL Inst. have info on the fund and its investments on their website. Tkae the time to get the facts before you get paranoid.
Somewhat Concerned
Wed, Sep 1, 2010 : 8:38 a.m.
Why is the amount undisclosed? Is this a secret slush fund to support UM MBA students? What are they hiding, and why?