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
Andover, Massachusetts- June 19, 2018
ACEINNA (pronounced “A See Nah”), has emerged from behind the curtains as one of the largest “spin out” companies in the MEMS and sensing technology sector. In addition, the new and improved ACEINNA website is up and running – making it much easier for our customers to research and find the appropriate sensing products for their applications. See us at www.aceinna.com
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.”
ACIENNA 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.
ACEINNA Inc., headquartered in Andover, Massachusetts, provides leading edge MEMS-based sensing solutions that help our customers improve the reliability, cost, features, and performance of their end products and equipment. The company has manufacturing facilities in Wuxi, China, and R&D facilities in San Jose CA, Andover MA, and Chicago IL.