GE Ventures Spins Out Menlo Micro With $18.7 Million Funding
GE Ventures is spinning out a new startup, Menlo Micro, which is producing a new type of electronic switch for use in mobile communications networks, new 5G mobile networks and industrial Internet of Things applications.
The Irvine, Calif.-based company has also raised $18.7 million in Series A funding from Paladin Capital Group, GE Ventures, Microsemi Corp., and Corning.
The digital micro switch technology is based on research at GE. Menlo Micro’s micromechanical device gives better power performance despite without losing speed, cost or reliability that solid state devices have, said Russ Garcia, chief executive of Menlo Micro.
The technology can be used in battery management, home automation, electric vehicles, medical instruments and wireless base stations. The company is looking to sell the product to large network equipment companies as well as military radio manufacturers and defense contractors, Mr. Garcia said.
“We’re replacing in some case technology that hasn’t changed in 30 to 50 years—or even 100 years in the case of circuit breakers,” Mr. Garcia said.
The technology is already being used in GE products, Mr. Garcia said.
This is the sixth company that GE Ventures has started, said Risa Stack, general manager of new business creation for GE Ventures.