WiSpry Closes Additional $7M In Series B Financing

WiSpry, Inc. recently announced the closing of an additional $7M of Series B financing, bringing the total of the Series B round to $18M. The round was led by present WiSpry investors American River Ventures, Blueprint Ventures, and L-Capital Partners. The company also announced DoCoMo Capital has made a strategic investment in the company. Participating in the round was another new investor, Arkian, WiSpry's Korean sales representative, as well as existing investors, Hotung Capital Management, In-Q-Tel, and Shepherd Ventures.

WiSpry, a fabless RF semiconductor company, is developing highly-integrated, and cost-effective, programmable RF products for multi-band, multi-standard handsets including tunable antennas and, tunable impedance matching networks. The Company's RF product solutions are revolutionizing the architecture and capability of high volume wireless products. The key to WiSpry's technology is the integration of its patented tunable digital RF-MEMS capacitor devices in an industry standard RF-CMOS process flow, thereby enabling convergence of digital, analog, RF and MEMS functionality on a single chip.

"The addition of DoCoMo Capital in this round adds substantial validation to the value proposition that we are bringing to the wireless handset market," said Russ Garcia, WiSpry's president and CEO. "With the continuing growth in complexity of consumer-based wireless terminals the demand for digitally programmable RF continues to grow. The capability we are bringing to market with the tunable digital capacitor enables product solutions that significantly enhance performance in a cost effective manner, thereby bringing substantial value to both carriers and handset manufacturers."

"We look forward to our strategic relationship with WiSpry," said Mr. Nobuyuki Akimoto, president and CEO of DoCoMo Capital. "We believe that WiSpry's tunable RF product technology will be revolutionary for the wireless market place and will enable a new generation of mobile devices with better power efficiency, smaller form factor and superior RF performance that are able to seamlessly support multiple mobile communication standards and worldwide frequency bands."

This funding round will support the company's transition from technology development to product qualification. WiSpry has several other potential investors completing diligence and as such will keep this financing round open for an additional 60 days.

SOURCE: WiSpry Inc.