Altair Semiconductor has spent about 20 years as a supplier of cellular IoT chips, with its LTE-M and NB‑IoT modems used in smart meters, logistics trackers and some wearables. Following a spin-out from Sony Semiconductor Solutions, it regained independence and secured $50 million in new funding to support a strategic pivot into 5G IoT. The company is developing and testing the ALT1550 modem based on 5G eRedCap technology aimed at industrial and large-scale low‑power deployments. Altair positions eRedCap as a cost- and power-efficient way to bring industrial and legacy devices onto 5G networks. Management says customer support and service will continue uninterrupted through the transition. No revenue, user, or valuation metrics were provided in the articles.

Total raised

$101M

Funding rounds

4

Latest round

Equity

Latest activity

Apr 2026