ATEL Ventures has finalized its support for Menlo Micro, a pioneering manufacturer of efficient micro-electrical-mechanical switches. This initial round of financing will help accelerate the acquisition of additional manufacturing equipment for Menlo Micro’s facility in Ithaca, NY.
Based in Irvine, CA with R&D and manufacturing operations in Albany and Ithaca, NY, Menlo Micro has raised over $225M million in equity funding to bring its breakthrough switching technology to market. The company’s Ideal Switch® eliminates compromises and tradeoffs by combining the benefits of electromechanical and solid-state switches into the best of both worlds, which delivers more than 99 percent reductions in size, weight, power, and cost to dozens of industries such as aerospace and defense, telecommunications, consumer electronics, industrial IoT, and test and measurement.
The new financing will bolster Menlo Micro’s ability to ramp within its initial market: semiconductor test and measurement. Today’s high-performance semiconductors, such as GPUs, APUs and HBM, require rigorous high-speed signal testing (64 Gbps +) before reaching customers, and Menlo Micro’s Ideal Switch® eliminates the inefficiencies inherent in typical test procedures, enabling semiconductor manufacturers to test more devices, faster, and at lower cost.
“After following Menlo Micro for a number of years we’re excited to be partnering with them to further support demand for their Ideal Switch®, which dramatically reduces size, weight, power and cost versus legacy relays and switches,” said Lance Torrey, Senior Director, ATEL Ventures. “Our financing will help Menlo Micro continue to scale its state-of-the-art manufacturing infrastructure and bring its technology platform to wider range of customers.”
Menlo Micro’s technology is backed by over 65 patent families comprised of more than 300 issued patents, with its core material science-based intellectual property originating from GE Research. The company’s innovative approach has garnered investments from leading firms including the Build Collective (formerly Future Shape), Standard Investments, Paladin Capital, Vertical Venture Partners, DBL Partners, Piva Capital, Corning, Microchip and others.
“This financing helps support our continued growth within our initial markets as well as the acceleration of our Ideal Switch® technology into our most strategic application – smart and efficient power controls,” said Mark Czepiel, Menlo Micro’s Chief Financial Officer. “We are well-positioned to meet the increasing demand for more reliable, efficient, and scalable switching solutions.”
ATEL Ventures has a long history of funding next-generation technology companies, providing flexible capital solutions that enable high-growth businesses in semiconductors, chip manufacturing, space technology and other sectors to scale critical infrastructure.