Colorado MicroDisplay Receives $9 Million Additional Funding; New Funding Round From Argo Global Capital and Existing Investors.BOULDER, Colo.--(BUSINESS WIRE)--Sept. 13, 1999-- Colorado MicroDisplay, Inc. (CMD CMD cerebromacular degeneration. ) announced today additional funding of $9 million. Argo Global Capital led the venture round with an investment of $4 million, and existing investors injected an additional $5 million. The investment, which brings CMD's total capital to $24 million, will be used for manufacturing ramp-up and marketing of the company's new digital chipset, continued research and development of new product categories, and additional working capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. . CMD has a fabless business model where all silicon wafer fabrication Wafer Fabrication is a procedure composed of many repeated sequential processes to produce complete electrical or photonic circuits. Examples include production of radio frequency (RF) amplifiers, LEDs, optical computer components, and CPUs for computers. and display assembly is outsourced to third-party contract manufacturers. CMD has developed a family of field-sequential high resolution, high-refresh rate, rich-color depth, low power microdisplays, as well as supporting interface electronics and optics. Based on CMD's proprietary microdisplay technology, Dynamic Nematic The stage between a crystal and a liquid that has a threadlike nature; for example, a liquid crystal. See crystalline and LCD. Liquid Crystal on Silicon Liquid crystal on silicon (LCOS or LCoS) is a "micro-projection" or "micro-display" technology typically applied in projection televisions. It is a reflective technology similar to DLP projectors; however, it uses liquid crystals instead of individual mirrors. (TM) (DNLCOS), the displays are designed for the next class of 3G (third generation) wireless communication, mobile computing Using a computing device while in transit. Mobile computing implies wireless transmission, but wireless transmission does not necessarily imply mobile computing. Fixed wireless applications use satellites, radio systems and lasers to transmit between permanent objects such as buildings , entertainment, and digital imaging products. "Argo believes that microdisplays will play a significant role in third generation wireless devices and networks," said Ronald White, the vice president and partner of Argo Global Partners who will be joining CMD's board. "We invested in CMD because we believe they are leaders in developing microdisplay solutions for the wireless market as well as the mobile computing and entertainment headset markets." In addition to Argo Global Capital, CMD's funding partners include Texas Instruments See TI. (company) Texas Instruments - (TI) A US electronics company. A TI engineer, Jack Kilby invented the integrated circuit in 1958. Three TI employees left the company in 1982 to start Compaq. , Hambrecht & Quist, Vulcan Ventures, Aweida Ventures Management, Dr. Robert Epstein Robert Epstein, Ph.D., (born June 19, 1953, Hartford, Connecticut, USA) is a psychologist, researcher, writer, and media professional whose primary contributions have been in the areas of creativity, stress management, self change, and interpersonal relationships. (co-founder of Sybase), Sequel Venture Partners, and most recently In Focus Corporation. "Our microdisplays improve the user interface of existing wireless products and enable the development of new and exciting ones," said Andrew Evans Andrew Evans refers to:
Target applications for the CMD microdisplay components include headsets for mobile computing, portable DVD players, wearable computers, wireless thin clients; electronic viewfinders in digital cameras and next generation smart phones, pagers and GPS devices; front/rear projection devices; and display devices for a wide variety of industrial products. About GSM Capital L.P. and Argo Global Capital, Inc. GSM Capital L.P. is one of the largest venture funds targeted exclusively at investing in companies on the technology side of the wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. industry. GSM Capital has committed capital of US $132 million. The fund will typically invest US $3-5 million as its initial funding at any stage of a company's growth process. Argo Global Capital, Inc., the manager of the fund, takes an active role in helping portfolio companies achieve their business vision. Its investment professionals combine strong operational and technical backgrounds with extensive experience in private equity investment and international business. Argo has eight of the world's leading wireless carriers as special limited partners; these carriers often become customers or partners of Argo's portfolio companies. The combined talents and contacts of the management team provide invaluable support to portfolio companies. About CMD Colorado MicroDisplay is a privately held technology development and marketing company whose mission is to develop and commercialize microdisplay technologies that enable "no compromise" display solutions for the next class of communication, computing and entertainment products. Based in Boulder, Colo., CMD was founded in 1996 by Chief Scientist Dr. Douglas McKnight; CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and President Mark Willner; and Chairman of the Board Dr. Robert Epstein. Additional information on CMD can be found on http://www.comicro.com. Dynamic Nematic Liquid Crystal on Silicon (DNLCOS) and We Share Your Vision are trademarks of Colorado MicroDisplay, Inc. All other company or product names are trademarks of their respective holders. |
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