AsicAhead Secures Ten Million USD in Series B Round of Funding.
HASSELT, Belgium -- AsicAhead NV, a leading provider of advanced mobile Radio Frequency Integrated Circuits (RFICs) for the WiMAX market, today announced that it has raised $10 million USD in its series B round of funding. The funds will be used to expand the company's product portfolio, broaden its customer support, and market its patent-pending AA1001 - the first "on the fly" reprogrammable single-chip radio solution that enables WiMAX-connected devices and systems to be deployed worldwide.
The round of funding was led by Capital-E and included current investors LRM, SHF and Allegro. According to Capital-E partner Marc Wachsmuth, "We were impressed by the industry's positive reception to AsicAhead, and encouraged by the progress the company has made in delivering the most advanced solution for 802.16e. We also see strong potential and exciting possibilities for AsicAhead's technology, beyond WiMAX."
"Customer enthusiasm has shown us we clearly need to continue building out our product roadmap and bringing our technology to companies that are developing broadband wireless access, mobile data and cellular applications," said Joan Ceuterick, Chief Executive Officer and co-founder of AsicAhead. "The support by Capital-E and our other investors reinforces our resolve to deliver state-of-the-art, easily reconfigurable standard products for global wireless connectivity."
"We participated in the first round of funding and are pleased to be part of this second round," said Roger Buteneers, CEO of LRM, "We see tremendous potential in the innovative architecture and products and look forward to working with AsicAhead as they pursue their expansion plans."
AsicAhead's AA1001 reprogrammable wideband transceiver overcomes the challenges of regional frequency band variation, multiple radio bandwidths and low-power requirements. Flexible and easy to design-in, it also eliminates the need for multiple RFICs, Surface Acoustic Wave (SAW) filters, and Temperature Compensated Crystal Oscillators (TCXO), lowering the Bill of Materials. Its ability to enable WiMAX-connected devices and systems such as Customer Premise Equipment (CPE), wireless data devices and mobile phones to be deployed worldwide make it ideal for Original Equipment Manufacturers (OEMs) and Original Design Manufacturer (ODMs) in the nomadic and mobile markets. Software upgradeable, the AA1001 RFIC allows fast entry into new regional markets with new frequencies. It covers all frequency bands continuously from 700MHz to 6GHz.
AsicAhead's funding will be provided in two equal parts, with delivery of the second half made available when defined milestones are reached.
Capital-E is an early stage venture fund focused exclusively on micro-electronics related start-ups in Europe. Through its entrenched relationship with IMEC, the largest independent research center in micro- and nano-electronics in Europe, the fund and its ventures can directly rely on the support of over 1300 specialised scientists and engineers, as well as leverage on IMEC's 500+ worldwide industrial partners such as Philips, Infineon, STMicroelectronics, Intel, Matsushita/Panasonic, Texas Instruments, Samsung and TSMC to speed-up the process of market entry. The fund is managed by an independent team with a balanced mix of entrepreneurial, industrial and VC experience.
LRM offers private equity and subordinated loans to local and foreign companies which establish, expand or acquire business activities in the Province of Limburg. The LRM fund addresses itself to all types of industries from small and medium-sized companies to large companies. The investment team has a hands-on approach to contribute to the creation of added value.
AsicAhead NV is a fabless semiconductor company that serves the mobile and wireless markets with reconfigurable RFIC components for flexible, cost-effective deployment of devices and systems worldwide. AsicAhead's advanced, patent-pending single-chip programmable radios support a universal frequency range and multiple standards, and can be switched between communication protocols and bandwidths on the fly. Privately held, AsicAhead was founded in 2003 and is headquartered in Hasselt, Belgium. For further information, please visit http://www.AsicAhead.com or email firstname.lastname@example.org.
All trademarks or registered trademarks mentioned in this news release are the intellectual property of their respective owners.
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|Date:||Jan 9, 2007|
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