Artimi Secures $26.5 Million In Funding For Wireless USB Development

Santa Clara, CA -- Artimi Inc., developer of wireless semiconductors for portable Certified Wireless USB consumer electronics, has closed $26.5 million in equity financing. Three current investors, Accel Partners, Amadeus Capital Partners, and Index Ventures, led the Series B investment. Additional funding came from existing investor, Oak Investment Partners, and a new investor, Bank of Scotland Growth Equity. To date, the company has raised $45 million.

"Validated by leading consumer electronics manufacturers, Artimi's low-power A-150 MAC has demonstrated the highest data throughput in the market," said Giuseppe Zocco, general partner with Index Ventures, and Artimi chairman. "The company is ideally positioned for significant market traction with tier-one consumer electronics manufacturers just as Wireless USB chips are starting to ship in volume. We remain committed to Artimi's long-term success and are pleased to be a return investor."

Artimi is experiencing strong demand for its interoperable, low-power, globally-compliant semiconductors for Certified Wireless USB and Bluetooth applications such as digital cameras, camcorders, storage devices, MP3 players and mobile phones.

"We will use the funding to expand production to support the substantial growth in customer demand for dual-mode Certified Wireless USB and next-generation Bluetooth markets," said Colin Macnab, CEO of Artimi. "This financing, one of the largest in the ultra-wideband segment, provides Artimi with the financial resources necessary to solidify and sustain a leadership position as the market transitions to mass production."

SOURCE: Artimi Inc.