WiSpry announced the closing of an additional $10 million of Series C financing, bringing the total of the Series C round to $20 million. The round was led by new investment partners, Chart Venture Partners and Acadia Woods Partners, bringing the number of new investors in WiSpry to four with Paladin Capital and Murata participating in the first closing.is a fabless RF semiconductor company that designs and manufactures RF CMOS integrated circuits and components for leading manufacturers of mobile phones, laptops and wireless data communications products. Utilizing the Company's core competency in RF micro-electro-mechanical systems (RF-MEMS) technology, WiSpry creates revolutionary wireless 'System on Chip' MEMS-based RF architectures, and has recently begun shipping products to a Tier 1 mobile handset manufacturer. WiSpry tunable RF-MEMS devices enable the development of reconfigurable RF front-ends, allowing system designers to achieve the architectural innovation required to meet the growing challenges of mobile communications networks.
"The additional funding from two new partners further validates our progress, technology and company direction, despite the tough economic climate," said Russ Garcia, WiSpry's CEO. "This investment aligns well with our ramp-to-volume production plan as we are moving forward with the productization of our first products and as we have customer commitments now in place for new product developments slated for 2010 production and beyond."
Tunable RF silicon solutions will play a significant role in redefining the architecture of the rapidly evolving multi-mode and multi-standard handset market. WiSpry's unique integration of RF semiconductors with its revolutionary RF-MEMS technology enables RF product solutions with superior performance, lower power consumption, and smaller footprints, and that are more cost-effective than traditional RF front-end product solutions.