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TechCrunch
31-07-2025
- Business
- TechCrunch
Kleiner Perkins-backed Ambiq pops on IPO debut
Ambiq Micro, a 15-year-old manufacturer of energy-efficient chips for wearable and medical devices, closed its first day of trading on Wednesday at $38.53 a share, a 61% increase from the $24 IPO price the company set the previous day. The success of the IPO signals strong investor demand in the public market for new small-cap companies benefiting from AI innovation. Ambiq closed its first day as a public company with a valuation of $656 million (excluding employee options). This represents a significant increase from its last private funding valuation of $450 million in 2023, according to PitchBook. Ambiq has pitched itself as well-positioned to capitalize on the growth driven by AI. 'Because we're so low energy, we can put more intelligence and more AI on board' of edge processors, the company's CTO Scott Hanson told TechCrunch. For the three months that ended March 31, Ambiq posted a net loss of $8.3 million against revenues of $15.7 million, the company's S1 filing shows. The Q1 results mark a slight improvement from the first quarter of 2024, when the company reported a $9.8 million loss on $15.2 million in revenue. Kleiner Perkins and EDB Investments, a Singaporean state-backed entity, are the largest outside backers of Ambiq, according to the filing. Wen Hsieh, who was a general partner at Kleiner Perkins until 2023, first backed Ambiq when the company raised its Series C in 2014. Hsieh also invested in Ambiq after he launched his own venture firm, Matter Venture Partners, two years ago.
Business Times
07-05-2025
- Business
- Business Times
Singapore-based biotech firm Nuevocor raises US$45 million in Series B round
[SINGAPORE] Biotechnology company Nuevocor announced on Wednesday (May 7) that it completed a US$45 million Series B funding round from new and existing investors. This includes 'significant participation' from current investors such as Temasek-linked life sciences builder ClavystBio and EDB Investments, the investment platform of the Singapore Economic Development Board (EDB). The round was co-led by healthcare-focused investor Kurma Partners and biotech venture capital firm Angelini Ventures. Other existing investors that participated in the round include the Germany-based Boehringer Ingelheim Venture Fund, private investment firm Highlight Capital and Singapore's Seeds Capital. Nuevocor focuses on developing cures for heart muscle diseases. The new investment will support first-in-human clinical trials for Nuevocor's NVC-001, a form of gene therapy, in the US and Europe. NVC-001 aims to treat patients with a form of genetic cardiovascular disease that leads to the weakening and enlargement of the heart muscle, eventually resulting in heart failure. The company will also use the funds to establish an office in Paris, France, to support clinical development. Dr Tan Yann Chong, chief executive and co-founder of Nuevocor, said: 'The continued strong support from insiders and the addition of new investors will enable Nuevocor to continue its strong momentum and advance NVC-001 into the clinic.'
