Wi-Fi Chipset Developer Nanoradio Raises Additional $11.5 Million
The syndicate of four Venture Capital funds consisting of Nordic Venture Partners, Innovacom, Teknoinvest and Industrifonden, who granted round A funding to Nanoradio, also granted round B investment to Nthe company.
"The NRX700 chipset has got a fantastic response and Nanoradio has already been selected by a number of tier 1 customers as supplier number one, replacing other famous brand names. " says Pär Bergsten, CEO of Nanoradio AB.
The NRX700, launched to beta customers in February this year, is meeting the growing demand for Voice over IP , driven by the fixed to cellular convergence, as well as the revolution in media content transforming to digital mobile media supported by standards such as UMA (Unlicensed Mobile Access) and IMS (IP Multimedia Subsystem).
"The market for low power WiFi is taking off right now and Nanoradio has the best offering at this point in time." says Mr Bergsten. P> Accordingly to the company, the NRX700, with a total die size of 20mm2, is the smallest footprint in the market. Additionally, Nanoradio claims it has the lowest power consumption in the world in transmit, receive and stand-by.
The target markets are mobile phones, portable media devices and other battery driven handheld consumer devices for which the NRX700 has been optimized.
Evaluation kits of the NRX700 and NRG720 (System in Package solution) are available immediately, with production quantities available from October 2006.
SOURCE: Nanoradio AB