Silicon Mobility Completes $10 Million Series B to Revolutionize Electric and Hybrid Vehicle Power Efficiency
SOPHIA ANTIPOLIS, France & OAKLAND, Calif.--(BUSINESS WIRE)--Oct 11, 2018--Silicon Mobility, a full stack semiconductor technology player powering control solutions for a cleaner, safer and smarter mobility, has announced the completion of its $10 million Series B funding led by Capital-E and Cipio Partners including undisclosed private industry investors.
While the electric and hybrid vehicle market is making serious inroads into mass-market adoption, there are still significant limitations in efficiency and performance due to use of traditional software-based semiconductors. These traditional solutions designed for gas powered vehicles have legacy technology resulting in huge bottlenecks for both power control and data processing, leaving massive untapped potential for electric and hybrid vehicles that go farther, charge faster and have a greater impact on environmental conservation.
Silicon Mobility has invented a new semiconductor architecture engineered specifically for electric and hybrid vehicles of today and tomorrow, unlocking true power and processing potential, the OLEA® Field Programmable Control Unit (FPCU).
“We are thrilled about this opportunity to bring our full-stack product to the numerous Tier 1 and OEMs we are engaged with all over the globe in full production,” said Bruno Paucard, President and CEO of Silicon Mobility . “With this financing, we are ensuring our ability to meet our customer demand today and fuel our aggressive goals both with geographic expansion and product innovation.”
The OLEA Field Programmable Control Unit in addition to a complete suite of supporting products, OLEA ®COMPOSER, OLEA ®LIB and OLEA ®APP deliver huge performance benefits compared to traditional semiconductor solutions. By using Silicon Mobility solutions, Tier one automotive manufacturers and OEMs dramatically increase the energy efficiency of electrified powertrains by 50 – 70 percent, reduce bill of material by a factor of 2 while cutting months in development cycles. This new financing will allow Silicon Mobility to scale-up with this disruptive solution and meet market demand.
“ Electrification of vehicles is just in its early years and we see much faster cycles than traditionally known in the sector” says Pascal Vanluchene of Capital E. “ Customers’ feedback is instant and they argue they found what they have been looking for since quite some time. We make a quantum leap in drastically reducing “range anxiety” through formidable energetic gains unknown to the sector so far.”
Silicon Mobility has been recently selected by the global accelerator Plug and Play for its Winter 2018 Mobility Innovation program. For more information on Silicon Mobility and the OLEA product suite, please visit www.silicon-mobility.com
About Silicon Mobility Silicon Mobility is a full stack technology player powering control solutions for a cleaner, safer and smarter mobility. The company designs, develops and offers flexible, real-time, safe and open semiconductor solutions used to increase energy efficiency and reduce pollutant emissions while keeping passengers safe. Silicon Mobility’s products control electric motors, battery and energy management systems of electric and hybrid vehicles. By using Silicon Mobility’s technologies, manufacturers improve the efficiency, reduce the size, weight and cost of electric motors and increase the battery range and durability. Silicon Mobility technology accelerates the vehicle’s powertrain electrification and the deployment of driverless vehicles for OEMs. Silicon Mobility is headquartered in Sophia Antipolis, France with offices in Silicon Valley and Munich.
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SOURCE: Silicon Mobility
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PUB: 10/11/2018 11:00 AM/DISC: 10/11/2018 11:01 AM