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PsiKick Raises $16.5M Series B Round to Power a Batteryless IoT

December 22, 2015 by Jeff Shepard

PsiKick today announced a $16.5 millon Series B financing, led by Osage University Partners and joined by existing investors New Enterprise Associates (NEA), the University of Michigan Investment in New Technologies Fund (MINTS), as well as individual angels. This brings total funding raised by the Internet of things (IoT) company to over $22 million. PsiKick is developing an entirely integrated self-powering wireless sensing solution that uses 1/1,000th the power of equivalent commercial products serves as the cornerstone for the next computing revolution.

“Prior to Series B, PsiKick created a platform of fundamental technologies for wireless devices that are entirely self-powered,” said Brendan Richardson, CEO of PsiKick. “We solved some pretty big challenges that have limited the reach of IoT devices and systems. Those building blocks include the world’s most efficient wireless connectivity, robust node computation and energy harvesting to enable a highly scalable batteryless IoT. This Series B financing will allow us to continue hiring leading IoT engineering talent and developing completely batteryless systems based on these fundamental technologies. We’re solving high impact problems that can’t be solved today.”

“We’ve been really impressed with PsiKick’s technology for some time now,” said Marc Singer, Managing Partner of Osage University Partners. “The company’s vision for the next wave of computing and the IoT is incredibly exciting and PsiKick’s self-powered wireless sensor systems will be fundamental to achieving the full promise of the IoT.” As part of the Series B financing, Marc Singer will join PsiKick’s Board of Directors.

“We’ve looked at just about everything that has to do with ultra-low-power, self-powering, Internet-of-Things or batteryless,” said Greg Papadopoulos, Venture Partner at NEA and PsiKick Board Member. “Most of it is incremental. PsiKick has made some fundamental breakthroughs that leapfrog what’s been done to date.”