Menlo Micro’s electronic switch with 5G use case potential
Irvine, California-based Menlo Micro claims to have reinvented the ubiquitous electronic switch with its Ideal Switch product.
A theoretical ideal switch possesses a number of characteristics, including no voltage drop when closed and instantaneous state changes without bouncing.
Menlo Micro’s Ideal Switch aspires to that standard by combining electromechanical and solid-state techniques which it says can result in 99% reductions in size, weight, power, and cost.
Menlo Micro said its technology could result in improvements for a number of sectors, including the rollout of 5G cell networks by improving RF and microwave switches and general efficiency improvements.
The company has raised across three rounds since its 2016 foundation, with $44mn of that coming from its latest , announced yesterday. The round was helmed by lead investor 40 North Ventures, with support from Vertical Venture Partners, Piva, Paladin Capital Group and Future Shape.
In , CEO Russ Garcia said: “This is a major milestone for Menlo Micro and the deployment of the Ideal Switch, which we firmly believe to be the most important technological innovation in the electronics industry since the transistor. This round of financing will enable us to significantly accelerate our product development and the scaling of our production lines. It is an incredible validation that our investors are standing behind our truly disruptive technology and our team at a time of so much uncertainty around the world.”
The company said it was planning to ramp up production to 100,000 units per month by the end of 2020, with a goal of millions per month in 2021.
“The concept of an ‘ideal switch’ was theoretical – something companies have been working to achieve for decades – until Menlo Micro,” said Marianne Wu, Managing Director of 40 North Ventures. “We are incredibly excited to work with such a dynamic, experienced team on a core technology that is disrupting nearly every industry.”
(Image: Menlo Micro)
Bukalapak raises $1.5bn in record Singapore IPO, say sources
Bukalapak, currently the fourth largest Indonesian ecommerce company, is said to have raised $1.5 billion in the first IPO by an Indonesian tech unicorn.
Three unidentified, but likely reliable, sources told Reuters the order books for Bukalapak’s IPO were covered by multiples, with one source claiming the issue attracted more than $6 billion in demand despite being listed at the top of its indicated price range.
Bukalapak's 50x growth
Bukalapak was looking to raise just $300 million just a few months ago. The figure grew to $800 million before rising to $1.5 billion as investors jockeyed for a piece of the company.
Covid-19 has had a positive impact on many ecommerce operators, and Bukalapak also has strong investment lines via Singapore sovereign investor GIC and Microsoft, among others. The company focuses on micro, small and medium-sized enterprises.
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Bukalapak is an Indonesian e-commerce company. It was founded in 2010 as an online marketplace to enable small and medium enterprises go online and has expanded to support smaller traditional family owned businesses.