Financing secures Wi-Fi expansion

Nanoradio has secured a new financing deal worth US $27 million.

Nanoradio has secured a new financing deal worth US $27 million.

The investment has been made by Norwegian firm, Ferd Venture, together with the previous investors - a syndicate of four venture capital funds consisting of Nordic Venture Partners, Innovacom, Teknoinvest and Industrifonden.

"Until recently the Wi-Fi business has focused on PCs and network access points but the most important trend is to now include Wi-Fi in cellular handsets and consumer electronics".

"Demand for a wireless lifestyle is accelerating rapidly".

"We believe that Nanoradio will address a broad, rapidly expanding market and we see great potential in the company and its unique, feature-rich, Wi-Fi solution", says Pal M Rodseth, Partner at Ferd Venture.

"Our product has made a great impact on tier 1 mobile phone manufacturers".

"The investment clearly indicates a big confidence in the company".

"Our investors' financial support enables us to focus on product development and maintaining our leading position in low-power Wi-Fi solutions, while better supporting our customers", says Par Bergsten, CEO of Nanoradio.

The NRX700 chipset solution is designed to meet the accelerating demand for voice over IP.

Demand is being driven by fixed-to-cellular convergence and the revolution in media content that is transforming the digital mobile media experience for users.

The technology is supported by standards such as UMA (Unlicensed Mobile Access) and IMS (IP Multimedia Subsystem).

Nanoradio's offering features ultralow power consumption, small sise and low total Wi-Fi solution cost.

Nanoradio is the first company in the world to support the emerging need for Wi-Fi in headsets and other audio devices.

The company has demonstrated a fully functional Wi-Fi stereo hi-fi headset using the NRX700 chipset.

Nanoradio's target markets are mobile phones, portable media devices and other battery-driven handheld consumer devices.

The combination of a highly skilled development team and world-class products has resulted in both design wins and volume sales to industry-leading mobile device manufacturers around the world.

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