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GPS startup finds $5M, partners with Trimble

Posted: 14 Jul 2004 ?? ?Print Version ?Bookmark and Share

Keywords:fabless semiconductor? gps? mobile phone handsets? pda? watches?

A fabless semiconductor startup that has developed global positioning technology called u-Nav Microelectronics Corp. has closed a $5 million Series D round of financing, the company said Friday (July 9, 2004).

The investment was led by Nordic Venture Partners, iSherpa Capital, Shelter Capital and UNI-LLC. The proceeds are intended primarily to expand the company's development, sales and marketing teams.

In addition, Trimble Navigation Ltd expanded its cooperation with u-Nav and participated in the latest round of financing, u-Nav said. The companies have agreed to form joint sales, marketing, business development and product promotion teams. The cooperation has already begun, and u-Nav expects to begin sampling combined products in the fourth quarter.

These products would combine GPS software from Trimble and GPS chip sets from u-Nav Irvine, Calif.) and has research and development in Tampere, Finland. Other investors include Danske Venture Partners and Startupfactory.

The CMOS chip set from u-Nav has begun high volume production for use in mobile phone handsets, PDA's, watches and other portable consumer and enterprise electronics products, the company said. It consumes less than 55mW in a continuous GPS tracking mode.

- Peter Clarke

Silicon Strategies





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