Sign In
NewsRadar

Search Press
Looking for press releases of a particular company? Enter company name (or keyword) here.

   


picoChip attracts $20 Million investment to accelerate growth


Bath, UK - November 18th, 2009: - picoChip today announced that it has completed a $20 million funding round. Already the dominant supplier for femtocell silicon, supporting all the major HSPA carrier deployments, this additional investment will help picoChip extend its leadership and grasp the growing market opportunity in the femtocell sector.

“This investment comes as the market is taking off for picoChip: it is testament to what we have already achieved, and our investors’ belief in our future,” said picoChip’s CEO Nigel Toon. “picoChip was the pioneer in femtocell technology and we are delighted to see our customers and partners deploying in volume in the rapidly developing global femtocell market. Our customers are already benefiting from picoChip’s substantial head-start, field-proven robust products and unparalleled experience in this market. This investment strengthens our balance sheet and fully funds us through to IPO.”

picoChip’s investors include financial investors, Atlas Venture, Highland Capital Partners, Pond Venture Partners, Scottish Equity Partners, and Rothschild plus strategic investors AT&T, Intel and Samsung. This fresh injection of capital from top tier VCs and institutional investors comes at a time when technology VC investment has decreased markedly, with backers choosing their investments carefully and only the strongest companies able to secure finance.

Dan Rosen, Principal at Highland Capital Partners, commented, “At Highland, we invest in companies that can establish leadership in explosive, high-growth markets. We are very excited about picoChip’s prospects in the Femtocell market. The company continues to win market share with proven best-in-class technology.”

ABI Research forecasts the total available femtocell market in 2010 will reach 2.3 million units, rising to 40 million units in 2014. In 2009 six major network operators have launched femtocell services that cover the USA, Europe and Asia.

Having been the first to market with a femtocell solution in 2005, picoChip is clearly the leading technology supplier for carrier’s HSPA rollouts, with seventeen customers using the field-proven picoXcell™ product. The company today also announced its strategy for an end-to-end femtocell reference solution that will lower barriers to entry, minimize cost and accelerate time-to-market for femtocells.

picoChip’s strong financial position, fast ramping revenues and proven technology leadership have won it the respect of customers and the financial community. In the last year picoChip was a top ranked company in Deloitte’s prestigious FAST 50, a widely acknowledged bellweather for the industry; and has been named one of the ‘Top Ten Private Companies’ to watch by the Financial Times. The additional endorsement of this investment allows the company to consolidate its leadership in next-generation wireless and assist in the next phase in the company’s growth.

picoChip CEO Nigel Toon will be speaking at the Barclays Capital 2009 Technology Private Company Conference in San Francisco on December 7th.

picoChip is bucking the trend with this latest investment that comes at a time when venture investors are extremely cautious. In its August 2009 State of the Semiconductor Industry report*, the Global Semiconductor Association (GSA) highlighted venture capital funding at a historic low. The report quotes figures from J.P. Morgan, presented to the GSA: ‘In the first half of 2009, funding in the semiconductor industry…totaled $569 million, compared to $1.1 billion for the same period a year before – a 48% decline in investments.’ Similarly, Thomson Reuters reported that the first three quarters of 2009 marked the weakest nine month period for new venture capital investments in 15 years.

For details of the GSA statistics:
http://www.gsaglobal.org/resources/industrydata/downturn/docs/Current_State_of_Semi_Economy_Q4Recap_Q1Expect_FINAL.pdf

For further information, please contact:
Andy Gothard - Director of Corporate Marketing Riverside Buildings, 108 Walcot Street, Bath, BA1 5BG, United Kingdom
Tel: +44 1225 469 744
E-mail: andyg@picochip.com
Fax: +44 1225 469 767
Web: www.picochip.com

PR team Katie Robertson - EML
Tel: +44 20 8408 8000
E-mail: picochip@eml.com

About picoChip
picoChip is enabling the next generation of wireless infrastructure. Its picoXcell family of optimized silicon devices is the leader in the fast growing market for femtocell access points. Its picoArray family of flexible wireless processors is the leading solution for OFDMA-based network equipment, and is backed by comprehensive software support for global standards such as EDGE, HSPA, HSPA+, TD-SCDMA, WiMAX, LTE, cdma2000 and GSM. Located in Bath, UK and Beijing, China, picoChip is re-shaping mobile networks. For more information, visit www.picochip.com


Publisher Contact Information:

picoChip Designs Limited
+44 1225 469 744
andyg@picochip.com

Company profile of picoChip Designs Limited
Past press releases of picoChip Designs Limited.

Data


24,159
Tech investments
From our Online Data Service
15,619
VC-backed companies
From our Radar


Recent Deals


DATEAMOUNTSECTOR
Apr 22€7.0MBusiness applications
Apr 20€1.3MeLearning
Apr 19€0.8MMaterials
Apr 19€16.5MMaterials
Apr 19€11.0MInternet commerce
Apr 19€35.5MBiopharmaceuticals
Apr 13€8.0MSecurity

For information on Europe's most extensive database on technology funding click here!

Events



Press Releases


Mar 29
Addex Therapeutics
addex sucessfully raises chf40 million in capital increase

Jan 2
Urban Jungle
urban jungle raises £1m in seed funding to build tech-enabled home ...

Aug 17
Komed Health
komed health closes seed financing round

Jul 10
Komed Health
komed health to be supported by nokia and deutsche telekom

May 4
Vivet Therapeutics
vivet therapeutics raises €37.5 million in series a





About usContact usLegal Information
Copyright © 1999-2018
Emerging Technology Research Europe Inc. All rights reserved.