November 21, 2019 – Delft, The Netherlands: Investors from Disruptive Technology Ventures (DTV) announce a substantial additional Series A investment round for semiconductor firm Nowi.
Initial DTV funding in March 2018 in conjunction with Dutch government backing enabled Nowi to reach several key milestones towards commercialization of its unique patented energy harvesting integrated circuit. Pushing past established competitors such as Texas Instruments, Analog Devices and others with a novel multi-patented process, Nowi is now readying commercial release for 2020.
Investors from DTV have confirmed a new fund to accelerate the commercialization of Nowi’s semiconductor.
Ad Scheepbouwer – Investor from DTV: “DTV has an investment philosophy that centers around disruptive and enabling technologies that address global markets. Nowi’s energy harvesting fits seamlessly in this profile. Over the last two years, we have seen them grow the team to a professional organization, their commercial efforts have created a highly promising sales funnel and the technology has transitioned from a promising technology to a mature product. As such, DTV is very excited to take the lead in this new round of funding and support them as this technology is commercialized globally.”
Ad Scheepbouwer
Menno van de Marel – Investor from DTV: “Connecting millions of devices presents all sorts of problems that do not play a part on smaller scales. Particularly as different applications will have their own distinct set of challenges. Part of what has excited DTV to lead the new round of investment in Nowi is how their technology is able to address some of the challenges that very diverse IoT, consumer and semiconductor applications all share. Size and cost are always determining factors in the economic feasibility of an application and even more so due to the high volume and low price points of products in these markets. Compared to all other PMIC alternatives on the market Nowi has been able to decrease the PCB assembly footprint by 97% and reduce the BOM cost by $1 per device, while still having top efficiency performance.”
“This new $10m series A round of funding enables Nowi to further grow the team and complete the transition from start-up to a mature organization, while still retaining a majority position in the company. As we launch our first NW-A2.3 Energy Harvesting PMIC product in the first half of 2020 we will further expand our commercial activities. This also enables collaborations with partners with a longer time horizon.” Simon van der Jagt – Nowi CEO
About NOWI: NOWI is a private semiconductor firm from Delft, the Netherlands, founded in 2015. Their expertise is in energy harvesting (low) power management IC and IP design. The company is focusing on enabling IoT and consumer product applications to become ‘Plug & Forget’.
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www.nowi-energy.com
