ACEINNA has emerged from behind the curtains as one of the largest “spin out” companies in the MEMS and sensing technology sector. The company is developing new sensing solutions for high volume applications such as autonomous vehicles, high performance computing systems, and smart buildings. Over the last two years, the company has achieved more than 70% annual growth and expects this to continue in the future. ACEINNA’s main focus is its 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.”
ACEINNA company and launch history
In late 2017, MEMSIC, a 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, 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 $100 million 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 is headquartered in Andover, Massachusetts. The company also has manufacturing facilities in Wuxi, China, and R&D facilities in San Jose, California, Andover, Massachusetts, and Chicago, Illinois.
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Copyright 2018 MEMS Journal, Inc.
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