Hong Kong, September 6, 2016—nexpaq has announced an investment from Maxim Ventures, the venture arm for Maxim Integrated Products, Inc. (NASDAQ: MXIM), a leader in analog integration which designs, manufactures, and sells high-performance semiconductor products. Maxim is collaborating with nexpaq to develop open-source IoT architectures that will be at the heart of nexpaq’s phone cases and modules.
nexpaq’s vision of being a key player in the IoT market, coupled with Maxim’s innovative sensor and low-power microcontroller technology, provides a mutually beneficial opportunity for both companies.
“In addition to funding, nexpaq and its community get access to Maxim’s newest microcontroller and analog technologies, while Maxim gains exposure to a broad base of engineers and IoT entrepreneurs,” said Chris Neil, Head of Maxim Ventures. “We are looking forward to bringing our sensor technology closer to end users in the form of modules,” added Shailendra Mahajan, Managing Director of Maxim Ventures.
“Maxim MCUs are perfect for nexpaq. Their low power consumption is a great fit for battery powered sensors like ours, and the built-in, proven security features will provide a trusted means for sensors to provide strong authentication of the data they produce,” said Jason Ko, CEO of nexpaq.
nexpaq builds the modular smartphone case that allows users to seamlessly customize, enhance, and add new hardware functions to their existing smartphones through the use of small transferable modules. This open system allows independent developers to create new modules, ease their manufacturing, and sell them on the nexpaq website. This truly democratizes IoT hardware.
About Maxim Ventures
Maxim Ventures, the venture arm of Maxim Integrated Products, Inc. (“Maxim”), invests in new businesses that are “beyond the chip.” We leverage Maxim’s enabling sensor and integrated circuit technologies and use that know-how as the basis to build companies that extend up the data-flow value chain into equipment, systems, software and services. Visit us athttp://www.maximventures.com.