Main Sequence Ventures once again invested as IoT wifi chip producer Morse Micro increased its series A round to $30m.
Morse Micro, an Australia-based developer of wifi chips for connected technologies, increased its series A round to $30m today thanks to a $13m extension featuring Main Sequence Ventures, the venture firm allied to research institute Csiro.
The round also featured Australian government-backed Clean Energy Innovation Fund, Skip Capital and private investor Ray Stata.
Peter Devine, chief executive of multi-university venture firm Uniseed, separately confirmed that Uniseed also participated in the extension through its Commercialisation Fund, Follow-on Fund and co-investment vehicle, Stoic Venture Capital Fund.
The initial $17m close took place in May 2019 and featured Main Sequence Ventures alongside multi-university venture firm Uniseed, Clean Energy Innovation Fund, Ray Stata, Blackbird Ventures, Right Click Capital and Skip Capital.
The Sydney Morning Herald has additionally named Atlas Advisors as an investor in the initial tranche.
Founded in 2016, Morse Micro has devised a wifi chip called Wi-Fi HaLow with increased range and energy efficiency in order to facilitate internet-of-things devices.
The series A capital will go to a recruitment drive intended to help Morse Micro target new applications with its technology and expand the business in Australia and internationally.
Morse Micro has now raised a total of around $33.9m. The spinout’s investors also include consulting firm Pan Group Australia.