Menlo Microsystems (Menlo Micro) announced a $150 million Series C financing headed by Vertical Venture Partners and Tony Fadell's Future Shape.

"Today’s funding milestone underscores the confidence our investors have in Menlo Micro’s transformative technology to fuel the electrification of everything and modernize the $100+ billion market for RF communications, power switching and protection devices in the 21st century,” said Menlo Micro CEO Russ Garcia.

It will allow the company to expand manufacturing in the United States and speed the development of its power roadmap to address difficulties, he said.
"We’re positioned to enable the upgrade of the world’s ageing power grids, modernise smart buildings and factories, and eliminate many of the inefficiencies in our legacy electrical infrastructure," Garcia says.

Menlo Micro has already raised approximately $225 million in total capital.

The funds will be used to expand Menlo Micro's domestic manufacturing and supply chain for the Ideal Switch, a device that combines the benefits of a mechanical relay and a semiconductor switch and is "tiny, fast, reliable, withstands extreme temperatures, is ultra-low loss, and can handle 1,000 of Watts," according to the company. It's also made with standard semiconductor machinery.

“The Ideal Switch is poised to replace every switch that distributes power. It is the most ubiquitous electrical component in the world – 20B are shipped each year,” said Tony Fadell, Nest founder and Principal at Future Shape. “It’s simple, the Ideal Switch changes fundamental math on power delivery to cities, buildings, homes, and appliances from EVs to lights. It will cost less, last longer, act smarter, and lower climate-busting emissions thanks to its energy efficiency profile."

New investors Fidelity Management & Research Company, DBL Partners, and Adage Capital Management joined current investors Standard Investments, Paladin Capital Group, Piva Capital, and PeopleFund to participate in the round.