Silicon Mobility, a full stack semiconductor technology player powering control solutions for smarter mobility, has announced the completion of its US$10m Series B funding led by Capital-E and Cipio Partners including undisclosed private industry investors.
The company says that while the electric and hybrid vehicle market is making serious inroads into mass-market adoption, there are still significant limitations in efficiency and performance due to use of traditional software-based semiconductors. These traditional solutions designed for gasoline powered vehicles have legacy technology resulting, it says, in 'huge bottlenecks for both power control and data processing, leaving massive untapped potential for electric and hybrid vehicles that go farther, charge faster and have a greater impact on environmental conservation'.
Silicon Mobility claims it has invented a new semiconductor architecture engineered specifically for electric and hybrid vehicles of today and tomorrow, 'unlocking true power and processing potential' – the OLEA Field Programmable Control Unit (FPCU).
"We are thrilled about this opportunity to bring our full-stack product to the numerous Tier 1 and OEMs we are engaged with all over the globe in full production," said Bruno Paucard, President and CEO of Silicon Mobility. "With this financing, we are ensuring our ability to meet our customer demand today and fuel our aggressive goals both with geographic expansion and product innovation."
It is claimed by Silicon Mobility that by using their solutions, Tier 1 suppliers and OEMs dramatically increase the energy efficiency of electrified powertrains by 50 – 70 percent, reduce bill of material by a factor of 2 while cutting months in development cycles. This new financing will allow Silicon Mobility to scale-up with this disruptive solution and meet market demand, it says.
"Electrification of vehicles is just in its early years and we see much faster cycles than traditionally known in the sector" says Pascal Vanluchene of Capital E. "Customers' feedback is instant and they argue they found what they have been looking for since quite some time. We make a quantum leap in drastically reducing "range anxiety" through formidable energetic gains unknown to the sector so far."
Silicon Mobility's products control electric motors, battery and energy management systems of electric and hybrid vehicles. Silicon Mobility maintains that it technology accelerates the vehicle's powertrain electrification and the deployment of driverless vehicles for OEMs. Silicon Mobility is headquartered in Sophia Antipolis, France with offices in Silicon Valley and Munich.