Lotus Microsystems Secures DKK 60 Million Funding and Appoints Hans Hasselby-Andersen as CEO

Dec 15, 2023

Copenhagen, Denmark

Lotus Microsystems, a Copenhagen-based fabless semiconductor company, announces a substantial DKK 60 million funding injection. The funding comes from Noon Ventures and the European Innovation Council, and will allow Lotus Microsystems to enter into a new growth phase. Specifically, serving collaborations with international electronics OEMs and advancing research and development initiatives.

The financial infusion, totaling 60 million DKK, accelerates the company’s global ambitions, positioning it as a key challenger in the semiconductor industry. It will fortify commercial engagements with international electronics OEMs and drive ongoing R&D activities.

To amplify its industry impact, Lotus Microsystems expanded its Board of Directors earlier in 2023, welcoming executives with recent leadership roles at Intel and Renesas. Effective November 1st, 2023, Hans-Hasselby Andersen assumes the role of Chief Executive Officer. He brings extensive semiconductor industry experience and the successful exit of Merus Audio to Infineon Technologies in 2018. With his experience we believe he can lead the company to new heights.

Against the backdrop of semiconductor supply chain uncertainties, Lotus Microsystems’ strategic positioning in Copenhagen gains geopolitical significance. The company is poised to contribute to the European semiconductor industry’s expansion, aligning with the goals of the European Chips Act.

About the new CEO:

Hans Hasselby-Andersen, with over 20 years of semiconductor industry experience in various roles, including founder, CEO, board member/chairman, advisory board member, and investor. He was the founder of Merus Audio, a fabless semiconductor company known for its ultra-efficient multi-level switching amplifiers. Merus Audio was acquired by Infineon in 2018. Hans held various positions at Texas Instruments within the Digital Audio business unit. He also served as R&D Manager at Toccata Technology, a pioneer in class-D audio amplifiers, which was later acquired by TI. Hans holds an M.Sc. in Electrical Engineering and an Executive MBA.

“Lotus Microsystems has a unique technology that pushes the frontiers for power density and thermal performance. Such technology is demanded by a wide range of applications, from high-performance computing to mobile devices, in other words, from AI to AI on the edge. I am very pleased to join this talented team on their journey to bring this breakthrough tech to the market.”

Hans Hasselby-Andersen, CEO of Lotus Microsystems

About the new investment:

Noon Ventures, a green deep-tech venture firm, in collaboration with the European Innovation Council, has invested a total seed funding of 60 million DKK. This funding will support development projects for international customers, enhance competitiveness through R&D expansion, and accelerate Lotus Microsystems’ go-to-market strategy.

“With the support from our investors and grant programs, coupled with the extensive experience from Hans and our Board of Directors, we are confident that we will be able to accelerate the company’s go-to-market strategy and achieve our goals for technology advancement.”

Ahmed Ammar, Co-founder and Head of Product

“In the semiconductor industry’s evolving landscape, Lotus Microsystems stands uniquely positioned to strengthen the Danish and European footprint. The substantial investments and the caliber of leaders joining the executive team and board of directors underscore the immense potential of Lotus Microsystems.”

Caspar Høgh, Partner at NOON Ventures & Member of the Board of Directors

“The experience, competence and drive that Hans, Ashraf, and Arend bring to Lotus are second to none, and will contribute significantly to the growth and future development of the company.”

Arve Johan Andresen, Chairman of the Board of Directors

About Lotus Microsystems:

Lotus Microsystems, founded in 2020 by Yasser Nour, Hoa Le Thanh, and Ahmed Ammar, is a fabless manufacturer specializing in highly integrated power converters. Collaborating with global semiconductor facilities, the company offers next-generation miniature power modules with best-in-class power density and superior thermal performance. The technology spans applications, focusing on advancing ultra-fast AI computing and efficient electronic device charging to minimize energy consumption.

The founding team completed their Ph.D. degrees at the Technical University of Denmark (DTU), with specialties in power electronics, integrated circuit design, and nanofabrication. The research behind the company’s core technology involved collaboration across esteemed institutions, including DTU, Harvard University, Fraunhofer, and IMEC.

For further comments or questions, please reach out to Hans Hasselby-Andersen, CEO,at hha@lotus-microsystems.com or +45 2883 1185.