SCOTTS VALLEY, Calif.--(BUSINESS WIRE)--Sep 5, 2023--
Ambient Photonics, a pioneer in low-light energy harvesting technology for connected devices, has secured $30 million in a Series A2 funding round. The round was led by Fine Structure Ventures, affiliated with the parent company of Fidelity Investments, and included new investors Helios Climate Ventures, Regeneration.VC, and Sustainable Future Ventures. Existing investors I Squared Capital, Ecosystem Integrity Fund, and Cthulhu Ventures also joined the raise.
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Low-light energy harvesting tech pioneer Ambient Photonics secures $30 million in a Series A2 funding round led by Fine Structure Ventures. (Graphic: Business Wire)
“This round demonstrates the commitment of both our long-time supporters and our new investors to our vision of sustainably powering the world’s connected devices,” commented Bates Marshall, CEO of Ambient Photonics. “We’re embarking on a new growth phase with our customers to make elegant products that run reliably without ever needing a battery replacement or recharge.”
Ambient will leverage the funding to expand its manufacturing capabilities and drive mass-market adoption of its proprietary low-light energy harvesting technology, which replaces disposable batteries in connected devices, such as remote controls, keyboards, mice, electronic shelf labels, and sensors. The company recently inaugurated its flagship manufacturing facility in Scotts Valley, California.
Jennifer Uhrig, Senior Managing Director at Fine Structure Ventures, remarked, “Our team is deeply impressed by Ambient’s unique low-light solar technology because of its potential to decarbonize the connected devices that now dominate the electronics landscape for consumers, retailers, and industry 4.0 applications.”
Peter Corsell, Global InfraTech Fund Partner at I Squared Capital, noted, “Ambient creates amazing new possibilities for connected devices. The company is fast becoming the cornerstone of an emerging market for electronics that are not only more sustainable, but also fundamentally better than battery-powered alternatives.”
“We recognize that disposable batteries and the toxic waste they create present an urgent problem for our planet,” said Jesse Johnson, Managing Director at Partner at Helios Climate Ventures. “Ambient’s energy harvesting solution for connected devices is the kind of revolutionary technology we’ve been looking for.”
Dan Fishman, General Partner at Regeneration.VC, praised Ambient Photonics' mission, saying, “We are excited about our investment into Ambient Photonics. High-power, low-cost energy harvesting is an important prerequisite for electronics in line with consumer electronic companies’ environmental targets. Ambient's tech is poised to redefine how we power connected devices and directly reduce e-waste and the harmful effects of single use batteries.”
Matthew Chagan, Partner at Sustainable Future Ventures, added, “Ambient Photonics' low-light solar technology accelerates our transition to a sustainable built environment. We are excited about its potential to significantly reduce the cost, operational complexity, and battery waste of implementing energy-saving IoT devices across the home, commercial, and industrial sectors.”
About Ambient Photonics
California-based Ambient Photonics was founded in 2019 to bring low-light energy harvesting technology to mass scale. Ambient’s technology was originally developed at the Warner Babcock Institute for Green Chemistry and funded at inception by Cthulhu Ventures LLC. Ambient is backed by leading investors like Amazon’s Climate Pledge Fund, Ecosystem Integrity Fund (EIF), Fine Structure Ventures, I Squared Capital and Tony Fadell’s Future Shape. The company’s low-light solar cells deliver ground-breaking power density at mass market price points, inspiring a new era in connected device form and function. Ambient works with leading global electronics manufacturers to deliver superior design possibilities, performance, sustainability and convenience with embedded solar cells across a range of disposable battery-powered devices. Explore endless power at: ambientphotonics.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230905276790/en/
CONTACT: Christine Bennett for Ambient Photonics
christine@cleantechcommunication.com| +1 925.330.4783
KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: SUSTAINABILITY ENVIRONMENT HARDWARE ALTERNATIVE ENERGY ENERGY CONSUMER ELECTRONICS TECHNOLOGY GREEN TECHNOLOGY
SOURCE: Ambient Photonics
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PUB: 09/05/2023 12:00 PM/DISC: 09/05/2023 12:02 PM
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