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Kenet Receives $10 Million In B-Round Extension; Additional Capital To Fund Sales & Marketing, Product Roll-Out.

WOBURN, Mass. -- Kenet Inc., a developer of revolutionary low-power analog mixed-signal products, today announced that it has raised $10 million of venture funding in a second tranche of the company's Series B investment round. This extension brings the total raised by the company to $27 million since 2002. Kenet plans to use the additional capital for sales and marketing efforts and to support the formal roll-out of its product line.

The investors in the B-round extension included all existing Series B investors - Oak Investment Partners, Venrock Associates, Kopin Corporation and CP Group.

"This investment underscores the long term commitment we made when we led the initial B-round investment," said Ifty Ahmed, general partner at Oak Investment Partners. "As Kenet moves into the sales and marketing and product launch phase of its evolution, we are confident the company will quickly gain a leadership position in the industry with its pioneering products".

"This funding extension is further affirmation of the path Kenet has chosen," said Phillip LoPresti, Kenet's president and CEO. "We have spent considerable time and effort to develop a product that will meet the performance and portability needs of electronic devices in the 21st century. The continued backing of the investment team shows that everyone is on board for the next - and most exciting - chapter in our company's history."

Kenet is developing its products using the company's FemtoCharge(R) CMOS technology, an innovative new analog signal-processing method that delivers an unprecedented combination of high performance and low power consumption. This process provides a unique ADC architecture that is fabricated in CMOS foundries. The patented FemtoCharge(R) process is the result of more than ten years of research and development into innovative ADC technologies by Dr. Gerry Sollner and others at MIT Lincoln Laboratory.

Kenet recently introduced a best-in-class family of 8- and 10-bit analog-to-digital converter (ADC) products that combine ultra-high performance with extremely low power. The flagship product - the KAD2710 - sets a new industry standard by operating at sampling rates of 275 million samples per second (MSPS) while saving more than 45% of the power required by currently shipping competitive products. The KAD2710 provides electronic designers and manufacturers the ideal product for meeting the power and portability needs that continue to drive the industry.

About Kenet

Kenet Inc. is a fabless semiconductor company founded to commercialize low-power mixed-signal technology developed at MIT. The company is developing innovative solutions for portable consumer and communications applications. Kenet is backed by investors including Venrock Associates, Oak Investment Partners, Kopin Corporation, and CP Group. For more information, please contact Kenet at 866-942-4501 or info@kenetinc.com. Additional information is also available at www.kenetinc.com.

About Oak Investment Partners

Established in 1978, Oak Investment Partners is a venture capital firm with a strong track record as a multi-stage investor. 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. For more information, please visit www.oakvc.com.

About Venrock Associates

Venrock Associates was founded as the venture capital arm of the Rockefeller Family and today continues a six-decade tradition of funding entrepreneurs and establishing successful, enduring companies. Venrock was formed in 1969 to build upon the successful investing activities of the Rockefeller Family that began in the late 1930s, when Laurance Rockefeller pioneered early-stage venture financing. Today, having invested more than $1.8 billion in more than 400 companies over the past 36 years, Venrock is one of the most established venture firms in the United States, with investment returns that place it among a small number of premier organizations that have achieved consistently superior performance.

Venrock's activities have focused on early-stage companies in information technology and healthcare. Its long investing history includes such companies as Intel, Apple Computer, Stratacom, Check Point Software, DoubleClick, Niku, and P-Cube in the IT sector, and Genetics Institute, Centocor, Idexx, Millennium Pharmaceuticals, Illumina, and Coley Pharmaceuticals in the healthcare sector. Venrock's first international investment, in 1995, was in Israel's Check Point Software Technologies Ltd., and it has continued investing in Israel, China, and the U.K. Venrock has offices in New York City, Cambridge, MA, and Menlo Park, CA. For more information, please visit Venrock's website at www.venrock.com.

About Kopin

Kopin is the largest U.S. manufacturer of microdisplays to the consumer electronics, industrial and military markets and the world's largest merchant supplier of heterojunction bipolar transistor (HBT) wafers for power amplifier integrated circuits. Since introducing its award-winning microdisplay technology in 1999, Kopin has shipped more than 20 million CyberDisplays for digital cameras, personal video eyewear, camcorders, thermal weapon sights and head-mounted displays. The Company also has shipped more than 600,000 HBT wafers, which have been integrated into more than one billion wireless handsets and into WiFi, VoIP and high-speed Internet data transmission systems. Kopin's technology is protected by more than 200 global patents and patents pending. For more information, please visit Kopin's Web site at www.kopin.com.

About Charoen Pokphand (CP) Group

The Charoen Pokphand Group (CP) with its early beginnings as a seed supplier in Thailand in the early 1920's is today a global conglomerate, with investments, operations and trading in 20 countries around the world, focused on two main business streamlines: Production and Processing (Agri-business) and Service (Telecommunications, Logistics and Retailing). CP's strength lies in its development of worldwide marketing and trading networks, based on "know-how" management, advanced technology and investment in quality products of international standard, for the global marketplace. More information can be found at www.cpthailand.com.
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Publication:Business Wire
Article Type:Company overview
Geographic Code:1USA
Date:Jun 19, 2006
Words:978
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