An additional CDN$14 million is available subject to meeting operational milestones.
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 tuyên bố rằng đó là UWB công nghệ mang lại thông lượng dữ liệu cao hơn 10 lần, độ trễ thấp hơn 60 lần và mức tiêu thụ điện năng thấp hơn 40 lần so với 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.