IoT ultra-low power, batteryless chips developer PsiKick issues $16.35 million worth of equity

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XDATA – November 2nd 2015
PsiKick disclosed selling 97% of its $16.9 million non-brokered equity offering to twenty-five investors. The sale started one month ago according to the document filed at the SEC. The company closed three previous unregistered private placements which raised an estimated $7 million.
PsiKick markets, manufactures and develops next generation ultra-low-power wireless sensing devices. The devices’ extreme energy efficiency enables them to be powered without a battery from a variety of harvested energy modalities including vibration, thermal gradients, solar, RF, or piezo actuation. Investors include New Enterprise Associates, Osage University Partners, and The Regents of the University of Michigan through its “MINTS” program (Michigan Investment in New Technology Startups).
The company, headquartered in Charlottesville VA, is led by Brendan Richardson (President and CEO). PsiKick elected to keep its revenues undisclosed.
The executive team includes Benton Calhoun, Brendan R Richardson and David Wentzloff.
The board of directors includes Greg Papadopoulos, Jack Busch and Marc Singer.

The company has raised an estimated total of $23.35 million via private unregistered security offerings.

Offering recap
Status: First close
Company: PsiKick
Industry: Other Technology
Amount offered: $16.9 million
Amount placed: $16.35 million
SEC filing: Source
First sale: 09-24-2015
Data as of: 11-02-2015

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