# Semitech Semiconductor

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/semitech-semiconductor

- Industry: Semiconductors
- Headquarters: Melbourne, Australia
- Website: www.semitechsemi.com
- Total disclosed funding: $3.4M
- Latest round: Series A (Jan 19, 2011)
- Investors on record: 3

## About

Semitech Semiconductor develops advanced semiconductor devices focused on enhancing smart grid and Internet of Things (IoT) solutions, driving innovation in energy management and communication technologies.Semitech Semiconductor is dedicated to the creation of semiconductor devices that support smart grid and IoT applications. Founded by Matt Rhodes, Mike Holt, and Zeev Collin, the company is headquartered in Melbourne, Australia. In January 2011, Semitech raised AUD 3.4 million in a Series A financing round led by Cleantech Ventures, with returning investors SIMAC Capital and Get2Volume Accelerator. The total amount raised to date is AUD 3.4 million.Semitech Semiconductor specializes in the development of semiconductor devices that enhance smart grid and IoT solutions. The company’s core product offering centers around the SM2400 System chip, a versatile Narrowband Communication platform designed for a multitude of applications including Automatic Meter Reading (AMR), electric vehicle (EV) charging infrastructure, and smart lighting systems. These devices facilitate the monitoring and control of various environments, thereby increasing energy efficiency and safety. Semitech's solutions cater to diverse industries, including industrial IoT, transportation, and alternative energy, with applications ranging from battery management systems to solar inverters. The company's products are marketed globally, particularly in regions such as North America, Europe, and Asia, serving customers across various sectors looking to implement energy-aware and automated installations.Semitech Semiconductor generates revenue primarily through the sale of its semiconductor products and modules, which incorporate advanced communication technologies over power lines and wireless networks. The company engages in business-to-business (B2B) transactions, partnering with manufacturers and system integrators who integrate Semitech's technologies into their own products. Revenue is accrued through the direct sale of products like the SM2400 modem and associated turnkey modules, which are designed for specific applications within metering and transportation markets. The transaction structure is typically characterized by one-time sales as well as possible licensing agreements for the algorithms and core intellectual property embedded within their devices, ensuring that clients can customize solutions to meet their unique requirements.Semitech Semiconductor has outlined growth strategies that focus on the development of new products and expansion into new markets. The company is actively working on new versions of the SM2400 system chip, with plans for a product launch aimed at enhancing electric vehicle infrastructure by the end of 2023. Additionally, Semitech plans to expand its market presence in Asia and Europe by 2024, leveraging recent funding to support these initiatives. The AUD 3.4 million raised in January 2011 will be utilized to advance product development and bolster marketing efforts in these targeted regions.

## Funding rounds

- Series A, Jan 19, 2011, $3.4M — Cleantech Ventures, SIMAC Capital, Get2Volume Accelerator

## Investors

- Cleantech Ventures (https://capitalatlas.ai/funds/cleantech-ventures) — Series A
- SIMAC Capital — Series A
- Get2Volume Accelerator — Series A