Australia’s largest semiconductor maker Morse Micro pocketed $30 million to top up its series B round to $170 million, with a handful of superannuation funds buying in.
Australia’s largest semiconductor maker Morse Micro has pocketed $30 million from a handful of superannuation funds to top up its giant $140 million Series B funding that wasTelstraSuper, HESTA, Hostplus and NGS and UniSuper participated in the round, which will allow the chipmaker to accelerate its growth, with the goal of getting its chips into as many new devices as possible.
“We weren’t really looking for more money, but it’s fantastic to get [these investors]. Especially the superannuation funds, it’s money from the average working Australian and being able to bring them in is just fantastic,” Mr de Nil said., which contributed $100 million of the Series B round two months ago.
“There was some interest already from some of those institutional investors. We decided to just close that round and then further explore a top-up round,” Mr de Nil said.Mr de Nil said the new cash would help the company accelerate the manufacture and distribution of its energy efficient, long-range WiFi HaLow chips, by investing in its sales and customer support teams and recruiting more senior and graduate engineers.
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