Spark completes $25m Series B

An additional CDN$14 million is available subject to meeting operational milestones.

Spark completes $25m Series B

Last April the company raised $7 million.

Led by Idealist Capital, the round includes existing investors Cycle Capital, Economic Development Canada (EDC), Real Ventures, and ND Capital.

Proceeds will be used to accelerate customer acquisition and partner engagements, as well as product development.

SPARK claims that it’s UWB technology delivers 10X more data throughput, 60X lower latency, and 40X lower power consumption than Bluetooth/BLE.

“This new financing equips us to meet massive demand for breakthrough performance in short-range wireless connectivity,” says CEO Fares Mubarak.

SPARK says its UWB transceivers – complemented with SDKs and reference designs – are designed into customers’  products in consumer and IoT sensor markets, with strategic engagements in progress with tier-one technology suppliers.