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Venture Capital News: HMicro Closes $5.5M in Series B Funding

FREMONT, CA, Wireless solutions firm developing integrated products for medical, industrial and the broad Internet of Things, announced today that it has secured $5.5M in Series B funding.
New investors led by Seraph Group; Reddy Capital Partners, X/Seed Capital Partners add to their Series A investments

HMicro, a wireless solutions firm developing integrated products for medical, industrial and the broad Internet of Things, announced today that it has secured $5.5M in Series B funding. The equity investment will support HMicro's continuing development and commercialization of its innovative REACH™ Wireless Technology.
The announcement comes as demand grows for a new class of wireless peripherals for many different applications. These wireless peripherals make demands on existing infrastructure for bandwidth, connectivity and QoS while needing to maintain functionality and performance within strict power budgets for portable electronics.
HMicro assembled an expert wireless team to resolving this growing challenge in the effective deployment of wireless peripherals. The team's track record of success in previous startups and its progress in cooperatively developing system-level wireless solutions in target markets led to the company closing a successful second round of financing, which saw previous investors increasing their stake while being joined by new investors.
Multi-Spectrum Wireless Solutions
The increasing difficulty for wireless peripherals lies in the limitations of current wireless communications protocols and their available spectra. Conventional wireless platforms such as Wi-Fi and Bluetooth were developed for mobile computing applications such as laptops, tablets and smartphones. New wireless applications demand greater bandwidth to accommodate multitudes of devices requiring data streaming of high integrity, with devices operating simultaneously in close proximity. Conventional wireless platforms suffer from limited functionality under demanding conditions. Furthermore, wireless peripherals require direct network access as opposed to depending on a bridge as a network gateway, another limitation of Bluetooth and near-field technologies.
HMicro's REACH wireless technology addresses the technical challenges of a wireless world with devices competing for spectrum access while operating on limited power. REACH provides wired-class data reliability, native TCP/IP support, and the ability to stream high data rates with exceptional power efficiency.
Reshaping the Medical Industry
HMicro's patented REACH Wireless Technology was conceived to satisfy the stringent wireless reliability requirements of medical applications at costs equivalent to legacy wired solutions. This industry is undergoing dramatic changes on a worldwide basis including migration to wireless monitoring. By employing HMicro's highly integrated REACH module solution, medical equipment manufacturers can develop monitoring devices that sense patient vital signs and other metrics with wireless patches that deliver high connection reliability in small form factors. The technology is also well-suited to challenging IoT applications with similar requirements.
'Our team has applied deep wireless expertise and worked collaboratively with high-profile OEMs in the medical industry to realize our breakthrough REACH SoC (system-on-chip) wireless solution.' said Surendar Magar, CEO of HMicro. 'The proven design expertise of our team in creating high volume silicon products coupled with a partnership-driven business model has enabled us to develop these complex SoC solutions with modest investments.'
Investors Old and New Affirm HMicro Technology Thru B Round Financing
The $5.5M investment tranche provides working capital for HMicro to complete development of its wireless solutions and release highly integrated module products later this year. With multiple customer engagements already underway, HMicro demonstrated to the investor community the value of its commercial vision, breakthrough technology and the strength of its engineering talent, provoking additional financing from its existing venture partners as well as attracting new investors to join.
'We've been with HMicro since the beginning and continue to be impressed with the company's technology as well as their progress in engagements with system OEMs,' said N.D. Reddy of Reddy Capital Partners. 'The opportunities for REACH wireless technology in the Medical sector are broad, and we are excited to be a part of it.'
'HMicro's combination of huge market potential, unique technical achievement and wide applications is a winning formula and the exact type of company Seraph is proud of partnering with,' said Tuff Yen, President of Seraph Group. ''With our vast network of over 200 business leaders and entrepreneurs from 25 cities, Seraph Group brings significant support to help HMicro's very seasoned and experienced team. We can't be more excited!'
About HMicro
HMicro is a wireless solutions company with a proven management and veteran engineering team that develops system-level solutions for wireless applications in the medical, industrial and the broad Internet of Things. The company's unique REACH technology utilizes multiple radio bands to enable connectivity for tens of devices operating simultaneously and wired-class reliability, thereby enabling OEMs to develop highly differentiated products.
The company has deep proficiency in all levels of wireless communications, as well as substantive expertise in medical applications.
'HMicro' and 'REACH' brands are words and logos trademarked by HMicro and registered in the U.S. Patent and Trademark Office as well as in other countries. All other trademarks or service marks are the property of their respective holders.
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