eoSemi secures $2.3m second tranche of funding
Bucking the trend of semiconductor startups struggling to raise funding, eoSemi has raised a second round of $2.3m for its all-silicon oscillator IP.
All of the company’s existing investors, including NESTA Investments, Capital-E, and EV, participated in the latest round of financing. The continuing commitment of our investors is a ringing endorsement, not only of our core technology, but also of the progress made by our team towards bringing that technology to market,” said Ian Macbeth, CEO of eoSemi in Cheshire. “We are addressing a long-term market opportunity in excess of $4bn, and moving confidently from early-stage technology development towards commercial success.”
The core technology enables new timing devices based entirely on silicon circuitry. These can replace the costly, bulky and unreliable external quartz crystals that are still used in even the newest consumer and industrial devices, from mobile phones to televisions. eoSemi’s new silicon approach allows a timing reference to be placed directly onto a silicon chip, reducing the number of parts required for each device and therefore the cost and size.