RedMere Technology Ltd. Secures US$8.2m in Venture Financing.* Series A preferred round of financing led by Celtic House Venture Partners * Funding to accelerate the release of ground-breaking communications technology Noun 1. communications technology - the activity of designing and constructing and maintaining communication systems engineering, technology - the practical application of science to commerce or industry DROGHEDA, Ireland -- RedMere Technology Ltd., a fabless semiconductor company A fabless semiconductor company specializes in the design and sale of hardware devices implemented on semiconductor chips. It achieves an advantage by outsourcing the fabrication of the devices to a specialized semiconductor manufacturer called a semiconductor foundry or "fab. delivering communications ICs which increase the reliability and reduce the cost of high-speed communication channels, today announced the closing of a US$8.2 million Series A preferred round of financing. The round was led by Celtic House Venture Partners and included syndicate partners Enterprise Ireland This article or section needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. , 4th Level Ventures and Enterprise Equity as well as follow-on by seed round investors. Peter Smyth, 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. of RedMere said: "With over $500m in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. , Celtic House is one of the most powerful technology investors in the international venture market. They also bring great experience in the fabless semiconductor and Consumer Electronic (CE) markets. We are very happy to have such a major North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. player lead this round of funding alongside two Irish venture firms. With this new investment and the continued backing of our early investors we are on track to launch exciting multiple product lines to the market in 2007." RedMere will use the funds to expand the application of its ground-breaking communications technology into a family of HDMI (High-Definition Multimedia Interface) A digital interface for audio and video signals designed as a single-cable solution for home theater and consumer electronics equipment. products addressing Consumer Electronics platforms such as High-definition TVs, Media Centres, Media PCs, Set-top-boxes, Projection Systems, Home Theatre Systems, DVD Recorders and Personal Video Recorders. RedMere will also increase its Marketing and Sales operations in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Asia. The HDMI market is experiencing rapid growth estimates of which are being revised upwards. In September 2004 the research house In-Stat estimated that there would be in excess of 110 million HDMI-enabled units produced by 2008. By December 2005 In-Stat had revised its estimates upwards, predicting over 250 million HDMI units in the same time, a trend recognised early by RedMere. RedMere is sampling its technology in its HDMI receiver products today. Roger Maggs and Brian Antonen, partners at Celtic House Venture Partners, join the board of RedMere Technology as non-executive directors. Commenting on the investment Mr. Maggs said: "In RedMere, we have identified a ground-breaking communications technology for differential signalling systems, with applications in storage, consumer and PC markets. RedMere's technology enables significant cost and performance gains in the most challenging communications environments." RedMere's Chief Technology Officer, Dr. John Horan Patrick J. Horan (dates of birth and death unknown) was a Major League Baseball pitcher and outfielder during part of the 1884 season. He was a native of Ireland. Horan made 13 appearances as a pitcher (10 starts) and 10 as an outfielder in a total of 20 games for the , said: "RedMere's technology is ideally suited to addressing the cost and reliability requirements of CE equipment. As high-performance networking technology moves from computing platforms to household electronics equipment, manufacturers need ultimate reliability at the low price points which fuel their market growth. This funding allows us to ramp production of our advanced differential signalling technology to meet these needs." About RedMere Technology (www.redmeretechnology.com): RedMere Technology was founded in 2004 by Peter Smyth (CEO), Declan Farley (VP Engineering) and Dr. John Horan (CTO (Chief Technical Officer) The executive responsible for the technical direction of an organization. See CIO and salary survey. ). As a fabless semiconductor company, they specialise in the high-end design and development of advanced chipsets, with production being outsourced to manufacturers in Taiwan. The chips will be sold to customers including the major electronic equipment makers. The company employs 20 people at its headquarters in Drogheda, Co Louth and in Cork. About Celtic House Venture Partners (www.celtic-house.com): Celtic House Venture Partners, a private venture capital firm, is a leading investor in early-stage technology companies in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and Europe. Celtic House is actively investing its third fund of US$225 million in semiconductors, systems and software start-ups. Celtic House's current portfolio includes: Cavendish Kinetics, Diablo Technologies, Fresco Microchip, Got Corp, Novx Systems, RedMere Technology, Sandvine, Sirific, Third Brigade, TrialStat, Tropic Networks, VirtenSys and ViXS Systems. www.celtic-house.com. |
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