This is the Menlo Micro pitch deck to raise a $44m series-b round in 2020.
About
Menlo Micro is the developer of the Ideal Switch, an electromechanical switch technology used to switch AC/DC and RF. The Ideal Switch can handle high temperatures and high-stress conditions and help in battery management, home automation, and instrumentation that enable clients to work with advanced products and deliver efficient outcomes using high power.
The circuit breaker was invented by Thomas Edison in 1897, and if you ask Menlo Micro CEO Russ Garcia, not much has changed with the technology since then.
That’s why the company — which was spun-off from GE Ventures, the investing arm of General Electric, in 2016 — sought to tackle the challenge.
“We’ve reinvented the most basic electronics component that there is,” Garcia told Business Insider, boasting that the firm has achieved something that over 40 firms failed to do over the past two decades.
Instead of a solid-state switch that Garcia says loses a good amount of power when turned on or off, Menlo Micro’s tech requires “almost no power to turn-off and doesn’t lose energy while it is on.” Drawing on inspiration from the semiconductor industry, the alloy-based switches are also much smaller, which means they can be used in a much wider array of applications, according to Garcia.
The firm recently raised $44 million in a Series B funding round led by 40 North Ventures. Menlo Micro is also backed by Future Shape, the venture fund started by iPod co-inventor and Nest cofounder Tony Fadell. Menlo Micro declined to provide its current valuation based on the latest investment round, but PitchBook lists it at $104 million.
Early use cases for the switch include helping network operators expand into the millimetre waves that will carry 5G and support a higher volume of users — all while simultaneously reducing energy consumption. Alongside 5G, Garcia is targeting power-heavy industries like aerospace, defence, and healthcare. GE, for example, put Menlo Micro’s switches in its MRI machines and saved thousands of dollars per medical imaging device.
The new funding will help Menlo Micro fulfil orders from over 30 current customers and meet future demand, Garcia said, with output estimated to top one million units per month in 2021.
“It’s scaling up that production,” said Garcia. “The interest level continues to grow at a fairly rapid rate.”
The startup also plans to increase the headcount — which already grew 40% this year — to roughly 40 employees by the end of 2020.
Funding Rounds
|
Announced Date
|
Transaction Name | Number of Investors | Money Raised | Lead Investors |
| Oct 14, 2020 | Series B – Menlo Micro | 5 | $44M |
40 North Ventures
|
| Jul 30, 2020 | Secondary Market – Menlo Micro | 1 | — |
40 North Ventures
|
| Dec 6, 2016 | Series A – Menlo Micro | 6 | $33.5M |
Paladin Capital Group
|
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