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BitWave Semiconductor gains additional funding

Posted: 21 Aug 2008 ?? ?Print Version ?Bookmark and Share

Keywords:funding $10million? Series B round? RFIC Softransceiver?

BitWave Semiconductor had closed $10 million of additional financing in an initial Series B funding round. The financing was provided by BitWave's existing investors: Apex Venture Partners, TVM Capital, and ECentury Capital Partners. The funding will be used to realize commercialization of BitWave's BW1102 Softransceive RFIC as the BW1102 moves into full volume production during Q4 08 for fulfilment of initial supply contracts.

In a statement, Wayne Boulais, managing partner at Apex Venture Partners, said for the investors that "the successful completion of BitWave's B-round highlights the investor's continued enthusiasm in BitWave. The investors strongly believe that the markets for BitWave products will continue to expand as BitWave transitions to full production in the coming months; we remain fully committed to BitWave's success."

BitWave's Softransceiver RFIC allows a single transceiver to be software programmed to work at any frequency, any bandwidth and for any wireless protocol. This approach overcomes the limitations of fixed-function transceivers and enables the design of multi-mode, multi-band wireless devices targeted at key markets such as cellphones, femtocells, wireless data cards, and public safety radios. BitWave's Softransceiver RFICs are programmable platforms enabling device manufacturers to develop and introduce wireless devices more rapidly and with both reduced development and bill of material costs. This is done with uncompromised RF performance and with excellent battery life.

"Thanks to this additional investment and our continuing investor support, we are moving rapidly to place the BW1102 Softransceiver into full production this year and to fully capitalize on the commercial opportunities available to us," said Michael Farese, Bitwave CEO in a statement. "This funding will enable BitWave to fulfill our initial supply agreements, and to add to our customer base and partner programs in the coming months."

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