Wireless chipset startup raises Eur 9 million

A syndicate of four venture capital funds consisting of Nordic Venture Partners, Innovacom, Teknoinvest and Industrifonden has invested Eur 9 million in Nanoradio headquartered in Kista, Sweden.

A syndicate of four venture capital funds consisting of Nordic Venture Partners, Innovacom, Teknoinvest and Industrifonden has invested Eur 9 million in Nanoradio headquartered in Kista, Sweden.

The goal of Nanoradio is to use the venture capital injection to launch a WLAN chipset solution to mobile and consumer electronics manufacturers.

In the long term the aim is to build a global wireless semiconductor provider that will supply the market with unique products with extremely low power consumption in all modes and world-class form factors.

Nanoradio is planning to provide customers with engineering samples of its first WLAN 802.11b/g system in package (SIP) after the summer in 2005 with volumes ramping up during 2006.

Consumers and OEMs can expect converged, connected devices that provide fast download and support for real-time multimedia applications such as voice over WLAN and Hi-Fi music over WLAN.

Pdr Bergsten, CEO Nanoradio said: "We are very excited about the commitment and backing shown from the syndicate as this enables Nanoradio to move into a higher gear".

"Now we have the financial strength to successfully launch our world class solutions to the top tier OEM companies".

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