Xenergic AB based in Lund, Sweden receives 8M SEK in seed round. The company offers low power memory solutions which can be used in market segments ranging from IoT to high end mobile devices.
It is expected that by 2020 there are going to be around 20 billion mobile devices, and most of them is likely to be battery operated. Extending the battery life of these devices has become a key challenge and has led to a huge interest in the industry. One of the biggest bottlenecks when it comes to lowering power consumption is SRAM (on-chip memory). Xenergic AB has developed patented low power SRAM techniques to tackle the stringent power requirements of battery operated devices.
“Xenergic is a company driven by a very dynamic team of talented engineers, who share a passion to create memories for a connected world. Our technology redefines the boundaries of efficiency in low power devices”, co-founder and CEO Babak Mohammadi.
Xenergic team announces with great pleasure and gratitude a successful seed round, raising 8M SEK investment from Almi Invest, Johan Qviberg through the company Quinary Investment AB, Filip Larsson, and others. We are very honoured by the trust being put in us and our exciting technology. The new funding will provide a huge boost and take Xenergic to new heights. We would also like to thank everyone involved in this process, our board members, LU Innovation and all the employees for the hard work and great contributions.