Amber Solutions Secures $5.5M in Series B Financing
Amber says its technology enables a range of disruptive advantages, such as enhanced quality and reliability with no archaic electro-mechanical parts.
DUBLIN, Calif. — Amber Solutions, a technology innovator creating a modern hyper-intelligent electrical architecture, recently announced it raised $5.5 million in Series B funding along with securing three new memorandums of understanding (MOUs) with leading global manufacturers of electrical products, smart automation systems and silicon chips.
The new MOUs now total six agreements signed during the COVID-19 lockdown and nine overall for the company, Amber Solutions Founder and CEO Thar Casey states in the announcement. Casey says the recent financing strengthens the company’s ability to continue refining and productizing its technologies into prototypes and pre-production products for evaluation, manufacturing and shipment by the company’s industry partners.
“This $5.5 million in financing brings our total raise to over $11 million,” Casey says. “Our strategy is to align with some of the world’s largest electronics manufacturers to power their product lines with our disruptive breakthrough technologies and de facto reposition their competitors as being old and out of date.”
Amber Solution’s core patented innovations enable the digital control of electricity in solid-state architecture. These breakthroughs are said to enable advanced intelligence (machine learning and machine-to-machine control) to be embedded within a programmable solid-state power system with a clear path to an even-smaller silicon chip version.
Among Amber’s nine signed MOUs, one of these partner agreements progressed to a binding agreement with a revenue commitment, according to the announcement.
The latest round of financing and new customer agreements come on the heels of Amber’s sixth secured patent, which enables manufacturers to design simpler, better and smaller LED lighting solutions, according to the announcement.
“These agreements serve as a testament to the value and disruptive nature of Amber’s technologies and the growing momentum and industry recognition that we are realizing. The agreements are also tangible examples of the expertise exhibited by our young company’s staff of highly experienced Silicon Valley executives in productizing and commercializing innovation that truly solves industry problems,” Casey says.
The company says the categories that can benefit from its technologies span the breadth of electrically powered landscape: circuit breakers, outlets, GFCIs, dimmer switches, solar/battery system switch solutions, LED drivers and bulbs, powered appliances and more.
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