ACEINNA Emerges as $50 Million Sensor Technology Spin Out
Biggest MEMS Sensor Technology Funded this Year
ACEINNA is THE Disruptive Innovator for the Guidance and Navigation Tech for Autonomous Vehicles
MEMS based Guidance & Navigation Technologies will enable True Autonomous Cars at Reasonable Prices
ACEINNA is developing powerful new sensing solutions for high volume Artificial Intelligence applications such as autonomous vehicles, high performance compute systems, and smart buildings. Over the last two years, the company has achieved >70% annual growth and expects this to continue in the future.
ACEINNA is a leading developer of Inertial Measurement Unit (IMU) sensing technology used to provide navigation and guidance to autonomous vehicles – from self-driving cars and trucks to automated material handling solutions used in warehouses and factories.
Currently, the sophisticated, highly accurate IMU navigation systems used by the top Level 4 autonomous car makers cost tens of thousands of dollars each.
“By leveraging our years of successful MEMS development and manufacturing experience, our innovative IMU technologies will enable us to provide the same technology for under $200 per unit, greatly accelerating the acceptance of autonomous vehicles worldwide,” explains Dr. Yang Zhao, CEO of ACEINNA. “We predict that within five years, IMU-based navigation technology for autonomous vehicles will be a billion-dollar market.”
ACEINNA is driving the affordable, high performance IMU market; ACEINNA technology is the most innovative and provides better performance at a lower cost.
ACEINNA Launch History
In late 2017, MEMSIC Inc., a leading sensor integrated circuit (IC), MEMS and solutions provider, finalized a transaction that involved the sale of its consumer sensor business, including its magnetometer and accelerometer products, along with the MEMSIC brand.
The original MEMSIC ownership, management team, and board of directors created a new company, ACEINNA Inc., based in the United States, to focus on the development of its higher growth, higher value product lines, which include inertial navigation systems, medical flow sensors, and current sensors originally developed as part of MEMSIC. In early 2018, ACEINNA finalized a start-up investment of approximately $50 million from the company founders and IDG Capital, China’s largest investment group which manages a near $20 billion fund.
According to Dr. Yang Zhao, now CEO of ACEINNA, and the founder of MEMSIC, “This transaction not only raised significant capital, but enabled us to now focus on the product lines where we see the best opportunity for growth and margin.”
Dr Zhao further commented that the acquiring company HC SemiTek intends to have the MEMSIC components business operate independently and is investing over a hundred million dollars to fuel its continuous growth into a major, international manufacturer of multiple MEMS sensors used in a wide range of consumer, automotive and industrial products.
ABOUT ACEINNA
ACEINNA Inc., is a leading provider of sensing solutions for automotive, industrial, telecom, datacenter, agricultural and construction markets.
ACEINNA’s precise positioning solutions are MEMS based, open-source, inertial sensing systems that are leading the industry by enabling easy-to-use, centimeter-accurate navigation systems for the autonomous revolution. ACEINNA’s current sensor product family is based on AMR technology that enables industry leading accuracy, bandwidth and step response in a cost effective single-chip form factor. ACEINNA has R&D facilities in San Jose, CA; Andover, MA; and Chicago, IL; as well as manufacturing facilities in Wuxi, China.
FOR MORE INFORMATION
ACEINNA Inc., One Tech Drive, Suite 325, Andover, MA 01810
Tel: 978-965-3200 Fax: 978-965-3201
Email: info@aceinna.com
Tel: 978-965-3200 Fax: 978-965-3201
Email: info@aceinna.com
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