Motorola Venture Arm Puts $6.5 Million Into MicroPower Technologies
San Diego’s MicroPower Technologies, founded in 2008 to develop ultra-low power wireless video surveillance products, said it has landed the first installment of a $6.5 million round of funding from Motorola Solutions Venture Capital and an undisclosed private fund.
The Series C funding represents MicroPower’s first institutional investment. Motorola Solutions Venture Capital is the investment arm of Schaumburg, IL-based Motorola Solutions, the company that retained Motorola’s mainstay radio, bar-code scanner, and RFID business in last year’s separation from Motorola’s mobile business.
MicroPower was initially funded by Southern California’s Tech Coast Angels, and was one of the first startups in San Diego to take advantage of the free EvoNexus incubator program established by CommNexus, a local nonprofit industry group.
The company says it plans to use the funding to step-up marketing of its wireless surveillance camera and related technology. The company’s flagship product, the Rugged-i wireless video camera, eliminates data and power cables and substantially cuts installation costs, such as the expense of pulling cable.
MicroPower has targeted commercial and government customers, including border protection, retail, education, and public utility markets. The company also says its wireless networking technology could be incorporated into wearable video cameras by law enforcement, paramedics, first responders, and military personnel.
Last year, MicroPower was named as a high tech award winner in the communications products and services category by the San Diego chapter of Tech America and as 2011 new product of the year by Security Products magazine.