Swedish wireless system on chip startup Nanoradio has raised €10m from its existing investors to develop a new line of chips.
It has launched a new line of low power devices - the NRX600/605 Eco-Fi - optimised for audio over WiFi in mobile phones and is looking to further expand the product line.
It has launched a new line of low power devices - the NRX600/605 Eco-Fi - optimised for audio over WiFi in mobile phones and is looking to further expand the product line.
"Nanoradio is the first company to offer a unique true one chip solution with fully integrated power amplifier and power management functionality that allows for having the complete WiFi-functionality within an area of less than 40 mm2, constantly switched on with a minimum of power consumption," said Tord Wingren, President & CEO of Nanoradio and former executive at Samsung Europe and Ericsson.
"This [investment] means that we will become a significant connectivity provider and the investment in Nanoradio is a significant recognition of the trust in our team and our capability to deliver according to plans," said Wingren.
"During the last 12 months we have made tremendous progress and we will now show our longer term commitment to continue to provide world-class WiFi solutions to Tier-1 Mobile Phone makers and demonstrate our capabilities to deliver high volumes to the highest quality standards."
The current investors are Viking Venture, Creandum, Ferd, Industrifonden, Nordic Venture Partners, Innovacom, and Teknoinvest. The company started in Kista in Sweden in 2004.
"We are very satisfied with the way Nanoradio has developed since our first investment 12 months ago", says Eivind Bergsmyr, Partner at Viking Venture and board member of Nanoradio.
"The company is executing on its strategy to become a leading WiFi solutions provider to the Mobile Phone industry, and with an exciting product portfolio and increasing customer interest we are positive that Nanoradio will be reaching its ambitious targets. Raising EUR 10 millions from existing investors shows the strong belief all existing investors have in the company".
Nick Flaherty has been covering technology and startups since 1990 and is based in Bristol, where he co-founded the SiliconSouthWest network. During that time he has worked for most of the electronics magazines and newspapers in the UK and several in Europe and the US, covering all areas of the industry. He blogs at The Embedded blog www.embeddedblog.blogspot.com and Portable Multimedia www.portablemultimedia.blogspot.com and at www.flaherty.co.uk.
"This [investment] means that we will become a significant connectivity provider and the investment in Nanoradio is a significant recognition of the trust in our team and our capability to deliver according to plans," said Wingren.
"During the last 12 months we have made tremendous progress and we will now show our longer term commitment to continue to provide world-class WiFi solutions to Tier-1 Mobile Phone makers and demonstrate our capabilities to deliver high volumes to the highest quality standards."
The current investors are Viking Venture, Creandum, Ferd, Industrifonden, Nordic Venture Partners, Innovacom, and Teknoinvest. The company started in Kista in Sweden in 2004.
"We are very satisfied with the way Nanoradio has developed since our first investment 12 months ago", says Eivind Bergsmyr, Partner at Viking Venture and board member of Nanoradio.
"The company is executing on its strategy to become a leading WiFi solutions provider to the Mobile Phone industry, and with an exciting product portfolio and increasing customer interest we are positive that Nanoradio will be reaching its ambitious targets. Raising EUR 10 millions from existing investors shows the strong belief all existing investors have in the company".
Nick Flaherty has been covering technology and startups since 1990 and is based in Bristol, where he co-founded the SiliconSouthWest network. During that time he has worked for most of the electronics magazines and newspapers in the UK and several in Europe and the US, covering all areas of the industry. He blogs at The Embedded blog www.embeddedblog.blogspot.com and Portable Multimedia www.portablemultimedia.blogspot.com and at www.flaherty.co.uk.
Leave a comment