The Montreal-based semiconductor company raised a $34 million Series B round led by Idealist Capital, with participation from Cycle Capital, Economic Development Canada (EDC), Real Ventures and ND Capital. It will receive another $14 million if Spark hits certain targets or “operational milestones,” which were not disclosed in the announcement. (The Logic)
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The Montreal-based semiconductor company raised a $34 million Series B round led by Idealist Capital, with participation from Cycle Capital, Economic Development Canada (EDC), Real Ventures and ND Capital. It will receive another $14 million if Spark hits certain targets or “operational milestones,” which were not disclosed in the announcement. (The Logic)
Talking point: Spark said the funding will be used to help it snag partnerships and customers for its transceivers, which aim to make wireless devices and sensors more energy efficient. The firm said its products help decrease wireless gaming devices and audio devices’ lag and charging times. In a press release, the firm said it’s also expanding its focus on attracting clients in the industrial and automotive sectors. Idealist Capital, a new investor in Spark, is led by former Bombardier executive Steeve Robitaille and Pierre Larochelle, a former Power Corp. executive and the chair of e-bus and truck maker Lion Electric.
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