A developer of low-power always-on systems that can be used for home security and industrial applications, among others, announced the close of a $5 million Series B funding round.
Strip District-based Aspinity Inc. said the funding will be used to further develop its platform for automotive-based use cases, and its new partnership with automotive semiconductor distributor Unitrontech will help see that work through.
Unitrontech served as one of the main investors in Aspinity's Series B round, which also garnered funding from prior investors Anzu Partners, Birchmere Ventures, Mountain State Capital and Riverfront Ventures. Since its founding in 2015, Aspinity has raised $19 million in funding.
"We are working with customers around the world to integrate this capability into home security systems, automobiles, and condition monitoring equipment," Tom Doyle, CEO and co-founder of Aspinity, said in a statement. "This investment allows us to collaborate with strong partners like Unitrontech and further develop our technology for new markets."
