Ambiq Micro completes $15.6M financing from 27 investors

Ambiq Micro Inc., a microcontroller developer, has reported completing a $15.6 million financing.
The West Lake Hills-based company collected the capital from 27 investors,according to a Friday filing with the U.S. Securities and Exchange Commission. CEO Mark Foley couldn’t be reached for comment Friday afternoon. Vice President of Marketing Mike Salas declined to comment except to say the financing includes a new investor. More details are scheduled to be released on Monday, he said.

Ambiq Micro, founded in 2010 as Cubiq Microchip Inc., develops energy-efficient microcontrollers. It reportedly employed 11 workers last year.

In August 2013, Ambiq Micro completed a $10 million Series B round of funding involving 30 investors. Investors includedAustin Ventures LP, the Houston-based Mercury Fund and Michigan-based Huron River Ventures, according to a company news release and an SEC filing.

Foley was previously the CEO of California-based Amalfi SemiconductorInc., a power amplifier company that was acquired in 2012 by RF Micro Devices Inc. for $47.5 million. Before that, he was CEO of NuTune Singapore Pte. Ltd., a developer of TV and set-top box tuners, according to Ambiq Micro’s website.