Kleiner Perkins-backed Ambiq Pops On Ipo Debut

Ambiq Micro, a 15-year-old shaper of energy-efficient chips for wearable and aesculapian devices, closed its first time of trading connected Wednesday astatine $38.53 a share, a 61% summation from nan $24 IPO value nan institution group nan erstwhile day.

The occurrence of nan IPO signals beardown investor request successful nan nationalist marketplace for caller small-cap companies benefiting from AI innovation.

Ambiq closed its first time arsenic a nationalist institution pinch a valuation of $656 cardinal (excluding worker options). This represents a important summation from its past backstage backing valuation of $450 cardinal successful 2023, according to PitchBook.

Ambiq has sounded itself arsenic well-positioned to capitalize connected nan maturation driven by AI. “Because we’re truthful debased energy, we tin put much intelligence and much AI connected board” of separator processors, nan company’s CTO Scott Hanson told TechCrunch.

For nan 3 months that ended March 31, Ambiq posted a nett nonaccomplishment of $8.3 cardinal against revenues of $15.7 million, nan company’s S1 filing shows. The Q1 results people a flimsy betterment from nan first 4th of 2024, erstwhile nan institution reported a $9.8 cardinal nonaccomplishment connected $15.2 cardinal successful revenue.

Kleiner Perkins and EDB Investments, a Singaporean state-backed entity, are nan largest extracurricular backers of Ambiq, according to nan filing.

Wen Hsieh, who was a wide partner astatine Kleiner Perkins until 2023, first backed Ambiq erstwhile nan institution raised its Series C successful 2014. Hsieh besides invested successful Ambiq aft he launched his ain task firm, Matter Venture Partners, 2 years ago.