Oslo-based ONiO, a fabless IoT company specializing in ultra-low-power microcontrollers, announced a €5 million funding round. The company designs and manufactures ONiO.zero, a general-purpose microcontroller unit (MCU) that can cold-start from under 1µW and operate on ambient energy sources such as solar, RF, thermal, and piezo. The device integrates a RISC-V CPU, radios, power management, security features, and memory onto a single die. ONiO.zero has been tested in various applications, including solar keyboards, electronic shelf labels, and environmental sensors. This funding will accelerate the volume production of ONiO.zero and associated development kits.
The round was led by Stockholm-based node.vc, with Helsinki’s Maki.vc as co-lead. Participating investors included existing investors EIC Fund and MP Pension.
"ONiO represents the kind of breakthrough technology we look for at node.vc," commented Mårten Skogö, Partner at node.vc.
The global Internet of Things (IoT) market is projected to reach $4.5 billion by 2030. ONiO's technology aims to address the environmental impact of millions of batteries used in IoT devices by enabling operation on ambient energy. The company's stated mission is to provide minimalist, user-friendly, and cost-effective power solutions for manufacturers. The funding will support increased production of ONiO.zero, enabling wider adoption of the technology in various IoT applications. The company's focus is on scaling production alongside the development of kits and reference designs to facilitate integration by engineers.
Several companies are developing low-power microcontrollers for IoT applications. Competitors include companies like Ambiq Micro, known for its subthreshold power optimization techniques, and Texas Instruments, a major player in the broader microcontroller market with a range of low-power options. These companies offer competing solutions in the low-power MCU market, focusing on different aspects of energy efficiency and functionality.