Product category:
Communications ICs (Wireless)
News Release from: Artimi
Edited by the Electronicstalk Editorial
Team on 14 December 2006
Artimi secures USD26.5 million in series
B funding
Artimi, developer of wireless semiconductors for portable Certified Wireless USB consumer electronics, has closed USD26.5 million in equity financing.
Artimi, developer of wireless semiconductors for portable Certified Wireless USB consumer electronics, has closed USD26.5 million in equity financing Three current investors, Accel Partners, Amadeus Capital Partners, and Index Ventures, led the Series B investment
This article was originally published on Electronicstalk on 7 Jul 2008 at 8.00am (UK)
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Additional funding came from existing investor, Oak Investment Partners, and a new investor, Bank of Scotland Growth Equity.
To date, the company has raised USD45 million.
"Validated by leading consumer electronics manufacturers, Artimi's low-power A-150 MAC has demonstrated the highest data throughput in the market," said Giuseppe Zocco, general partner with Index Ventures, and Artimi chairman.
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"The company is ideally positioned for significant market traction with tier-one consumer electronics manufacturers just as Wireless USB chips are starting to ship in volume".
"We remain committed to Artimi's long-term success and are pleased to be a return investor".
Artimi is experiencing strong demand for its interoperable, low-power, globally-compliant semiconductors for Certified Wireless USB and next-generation Bluetooth applications such as digital cameras, camcorders, storage devices, MP3 players and mobile phones.
This new funding allows Artimi to invest heavily in the ongoing enhancement of its product portfolio, expand sales and marketing efforts, and continue delivering new technology for high data rate wireless personal area networks.
"We will use the funding to expand production to support the substantial growth in customer demand for dual-mode Certified Wireless USB and next-generation Bluetooth markets," said Colin Macnab, CEO of Artimi.
"This financing, one of the largest in the ultra-wideband segment, provides Artimi with the financial resources necessary to solidify and sustain a leadership position as the market transitions to mass production".
Artimi provides semiconductors, software and reference designs for consumer electronics devices delivering wireless connectivity based on WiMedia-based Certified Wireless USB, next-generation Bluetooth and WiNet.
Artimi's highly integrated, easy to use ultra-wideband (UWB) solutions greatly reduce time to market for portable devices where high-speed bulk data transfer and low power consumption are needed, such as storage devices, digital cameras, camcorders, MP3 players, PDAs and mobile phones.
Artimi, founded in 2002, is headquartered in Santa Clara, California, with research and development in Cambridge, UK, and sales offices in Japan and Taiwan.
Founded in 1983, Accel Partners is one of the world's leading venture capital firms.
The firm is dedicated to partnering with outstanding entrepreneurs to build world-class Internet, software and networking companies.
Accel Partners has more than USD4 billion under management from its offices in Palo Alto, London, and China, and its portfolio companies have completed IPOs that have created well over $150 billion in market capitalisation.
Representative current and former investments include Brightcove, Comscore, Double Fusion, Facebook, Glam, Macromedia, RealNetworks, and The Cloud.
Amadeus is one of Europe's leading technology investors.
Since its inception in 1997, the firm has backed nearly 60 companies covering computer hardware and software, mobile and fixed communications technologies and medical technologies.
Investments include Cambridge Silicon Radio, producing single chip bluetooth radios for short range connections and floated on the London Stock Exchange in 2004, Optos, a manufacturer of laser retinal scanners which this year had a successful IPO on the London Stock Exchange, Valista, an electronic payments company and Solexa, the developer of next generation genetic analysis systems, recently merged with Illumina Index Ventures is a leading European venture capital firm active in technology venture investing since 1996.
The firm is dedicated to helping top entrepreneurial teams in the Information Technology and Life Science sectors build their companies into market defining global leaders.
The firm has offices in Geneva, London and Jersey and focuses its investment activity primarily on Europe and Israel.
Investments include Betfair (the world's largest betting exchange); Virata (leader in DSL chipsets for broadband access, acquired by Conexant); Skype (leader in VOIP, recently acquired by eBay); MySQL (the world's most popular open source database); Photoways (Europe's largest online photo-processing service) and Lovefilm (Europe's largest DVD rental business).
Established in 1978, Oak Investment Partners is a venture capital firm with a strong track record as a multi-stage investor with a total of USD8.4 billion in committed capital.
Their primary investment focus is on high growth opportunities in communications, information technology, consumer internet, new media, financial services information technology, semiconductors, healthcare services and consumer retail.
Oak concentrates on building long-term relationships with experienced management teams to develop successful companies that deliver consistent performance over time.
These include 2Wire, Aquantive, Compaq, Fastclick (acquired by ValueClick), Genzyme, IGE, Inktomi (acquired by Yahoo!), Parametric Technology Corporation, Polycom, RazorGator, Seagate Technologies, SMIC, Sybase, Synaptics, Synopsys, TeleAtlas, Virata, Wireless Facilities (WFII), etc.
Bank of Scotland Corporate, part of HBOS Plc, has a reputation for excellence in the provision of corporate finance, delivering innovative funding solutions across a range of markets.
Bank of Scotland's Growth Equity team invests in fast moving companies with at least two years track record of sales growth.
It usually invests up to GBP7 million of equity and always takes minority stakes.
Bank of Scotland Corporate employs over 8300 employees.
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