Lotus Microsystems closes a seed-funding round with Copenhagen-based NOON Ventures
June 22, 2021
The semiconductor start-up Lotus Microsystems today announced the closure of a seed-funding round with Copenhagen-based NOON Ventures. This seed round represents a significant milestone on the company’s growth journey and closes only 4 months after a group of early investors decided to support the enterprise. “We are pleased to get the NOON team on board and enhance the ability to execute on our technology and go-to market plans” says Erik Stangerup, CCO of Lotus Microsystems and a member of the Digital Electronics Committee of the Confederation of Danish Industry. “As a start-up in one of the most complex and capital intensive value chains in the world, we have been looking for investors who possess a profound understanding of the industrial challenges and we have found this with the NOON team”.
Founded in late 2020, based on years of research carried out at DTU, Lotus Microsystems has been on a superfast trajectory. Their first standard product will be launched through distribution later this year and Lotus is already in close contact with a number of key customers – primarily in the Hearing Aid, Headset, and Audio markets. The proceeds from the investment will be spent on growing the company’s market engagement and R&D capacity.
“Lotus Microsystems is introducing an innovative integration technology to the market that alleviates many problems that have been obstructing the development and commercialization of efficient and miniaturized integrated power converters for years”, says Yasser Nour, CEO of Lotus Microsystems. ”With our technology inside, battery- and solar-powered devices can be made smaller and lighter and run longer on a charge, and this is achieved with materials that are easier to recycle than those currently used. For the user this may not seem like a big thing but imagine how much CO2 and pollution we could save globally if this applied to every electronic device!” adds Yasser Nour.
”We are immensely impressed with the team and the potential this technology holds,” says Caspar Høgh, Founding Partner at NOON Ventures. "Lotus Microsystems is a prime example of the world-class technology coming out of Danish research institutions these years to address climate challenges. We believe LotusMicrosystems could become the leading technology player within power management in the booming global semiconductor market, and make a significant contribution to the sustainability profile of the industry. We look forward to supporting the team going forward."
About Lotus Microsystems:
Lotus Microsystems makes the world’s smallest power converters! Leveraging breakthrough research, technology and IP, Lotus Microsystems is a fab-less semiconductor manufacturer of highly efficient and super compact power management components that enable mobile electronic devices to run longer on a charge, pack more features and are more environment-friendly when recycled than products based on conventional technologies.
About NOON Ventures:
NOON Ventures is a Copenhagen-based, early-stage investor established in 2020. NOON invests in transformative technologies with the potential to impact environmental or climate challenges.
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