xMEMS Labs, Inc., the inventor of the world’s first piezoelectric MEMS (piezoMEMS) µCooling fan-on-a-chip thermal management solution and the leader in solid-state silicon speakers, today announced the closing of a $21 million Series D funding round. The round was led by Boardman Bay Capital Management (BBCM), with participation from Cloudview Capital, CDIB-TEN Capital, Harbinger Venture Capital, SIG Asia Investments, an affiliate of Susquehanna International Group (SIG), and other strategic investors.

The new capital will accelerate mass production and global commercialization of xMEMS’ piezoMEMS-based loudspeakers and micro-cooling chips – two innovations that directly address the fundamental design and performance constraints impacting the next generation of AI-enabled consumer devices.

“This fundraise comes at a moment of rapidly accelerating commercial momentum,” said Joseph Jiang, CEO and Co-Founder of xMEMS Labs. “Leading consumer device makers are all confronting the same challenge: how to deliver the performance AI demands while also achieving size, weight, thermal management, and audio quality goals. Our piezoMEMS platform solves this. With the support of Boardman Bay Capital Management and our investors, we’re expanding manufacturing and fueling the next wave of piezoMEMS innovation.”

“xMEMS is at the heart of a significant shift in hardware design driven by AI,” said Will Graves, Chief Investment Officer at Boardman Bay Capital Management. “Their technology directly addresses key pain points for today’s AI devices – managing heat, conserving space, and delivering crystal-clear audio in increasingly compact and powerful products. We believe piezoMEMS will be a foundational building block for the AI hardware era.”

xMEMS has pioneered a new category of semiconductor technology: piezoMEMS, a monolithic MEMS platform that leverages thin-film piezoelectric materials to deliver performance previously unachievable at such small scales. Unlike legacy coil motor speaker and fan components, piezoMEMS speakers and micro-coolers are fully solid-state, enabling a leap forward in performance, reliability, and form factor – critical to enabling thinner, lighter, and higher-performing edge AI products.

Over the past year, xMEMS has brought to market two flagship product families built on this breakthrough platform:

• Sycamore, the world’s thinnest and lightest high-fidelity MEMS loudspeaker, designed to deliver rich, full-range sound in ultra-slim form factors like AI glasses, headphones, and smartwatches.
• µCooling, the industry’s first chip-scale, solid-state air-moving solution, providing silent, vibration-free active thermal management in space-constrained devices such as AI glasses, smartphones, and SSDs.

Together, these innovations are transforming how device makers solve for rising compute loads, thermal budgets, and audio clarity in AI-native product designs. Many of the world’s leading consumer technology companies are now engaging xMEMS as they architect their next-generation AI devices.

xMEMS’ leadership in piezoMEMS has been recognized with over 250 granted patents and industry accolades including Best MEMS Solution and Startup of the Year at Sensors Converge 2025. With commercial engagements rapidly expanding, the company is emerging as a key enabler of the next generation of AI-powered consumer and edge devices.

The Series D investment marks a major inflection point in xMEMS’ trajectory – enabling full-scale production, deeper partnerships with global OEMs, and continued R&D to unlock the next wave of piezoMEMS breakthroughs in audio, thermal, and beyond.

For more information on xMEMS, visit www.xmems.com. For hi-res imagery, click here.

About xMEMS Labs, Inc.

Founded in 2018, xMEMS Labs is redefining sound and cooling with its breakthrough piezoMEMS platform. We created the world’s first solid-state MEMS speakers—powering AI glasses, earbuds, headphones, and smartwatches—and the first μCooling fan-on-a-chip, enabling improved thermal performance in smartphones, AI glasses, SSDs, and beyond.

xMEMS has over 250 granted patents worldwide for its technology. For more information, visit https://xmems.com.

About Boardman Bay Capital Management

Boardman Bay is a venture capital and technology investment firm focused on backing the next generation of hard tech and semiconductor innovators. With a track record of supporting companies at the forefront of AI infrastructure, optical and photonic systems, chip design, and data movement, Boardman Bay has been an early investor in transformative platforms including Ayar Labs, Groq, xLight, Credo (NASDAQ: CRDO) and Elenion (acquired by Nokia). The firm operates a family of specialized venture funds that provide strategic, concentrated exposure to the core technologies reshaping global compute and connectivity. Founded in 2012, Boardman Bay combines deep domain expertise with a disciplined investment approach—across public and private portfolios—to help build enduring, category-defining businesses. Learn more at boardmanbay.com

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