Spark Microsystems raises $34 million to meet chip demand amid supply crunch
Summary
Montr\xc3\xa9al-based fabless semiconductor company Spark Microsystems has closed $34 million CAD in Series B financing as the broader chip industry continues to grapple with a supply crunch and demand fluctuations. It also saw participation from existing Spark investors, including Economic Development Canada, Real Ventures, ND Capital, and climate tech-focused Cycle Capital. Designed for short range communications, UWB technology transits data using a different method compared to traditional narrowband technologies such as WiFi, Bluetooth, Zigbee, and cellular. According to Spark, this enhances capabilities for UWB wireless networks, including quicker times to initialize a link and send data. It also closed a $17.5 million equity round in 2021 and received a $7.1 million investment from Sustainable Development Technology Canada in 2022.