Press Release
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Editorial contact: Guy Robertson |
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Nanotech Semiconductor announces $6M Venture Capital round |
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Bristol, England, May 25th 2005 – Nanotech Semiconductor Limited (“Nanotech”), a fabless IC company specializing in advanced Analogue & Mixed-Signal ICs for Communications applications, today announced the completion of its second investment round, raising a further $6m. Pond Venture Partners (“Pond”) and Atlantic Bridge Ventures (“Atlantic Bridge”) are again the investors, and each maintains a representative on the Board of Nanotech. For Pond, this will be Richard Irving, Managing Partner, and for Atlantic Bridge, Brian Long, a Founding Partner. Gary Steele, Founder & CEO of Nanotech commented “We are very pleased to be able to extend our relationship with Pond and Atlantic Bridge, as it happens, almost exactly 2 years since the Company's formation. Brian and Richard are both veterans of the IC industry, and have the network of contacts, and depth of industry understanding, that really makes a difference. I couldn't imagine the Board working any other way.” Richard Irving at Pond said, “We are very pleased with the Company's progress, and the way the team is taking shape. Many of the team hail from Gary's previous business, Microcosm Communications, and so already had a track-record of World firsts in CMOS. But we are very encouraged to see the new members adding to the tradition. We are seeing some ground-breaking innovations in the field of fiber-based optical communications, some of which are currently patent pending”. Gary Steele added, “Earlier this year we were able to complete our first 2 ICs for the Plastic Optical Fiber (POF) based ‘MOST' Automotive Communications market and, as anticipated, have created ICs which are 1/3 rd the die area of the nearest competitor, whilst typically offering at least 5dB better sensitivity. Now our first 2 ICs for OC-3 and OC-12 SONET applications are in Fab., and several more ‘mainstream' ICs are at various stages of development”. But all this is just the ‘bread & butter' of the business. “At Microcosm we came to realise the apparent distinction between ‘Datacommunications' and ‘Telecommunications' over fiber was merely historical, with e.g. GaAs products used in Telecom and Silicon (Bipolar) for Datacom. Once we were able to achieve GaAs-type performance in ‘Logic' CMOS, meeting the performance needs of Telecom customers, we automatically met the low-cost needs of Datacom Customers. So effectively, we could combine the 2 markets and reach economies of scale otherwise unobtainable”. “Now at Nanotech we have found several more markets that historically have been treated differently, but with a little imagination, and the right team, can be addressed simultaneously. Look out for some breakthrough products to be formally announced a little later in the year” Brian Long, Founding Partner at Atlantic Bridge, and Founder & ex-CEO of CEVA Inc., moves from ‘Observer' to full member of Nanotech's Board. “We have been very impressed with the team's execution to date, and their ideas for the future. Now with an additional $6m we believe the Company will be able to grow rapidly to around 30 strong, accelerating the pace of innovation, and building a team that can take these exciting new products to customers in all corners of the globe.” The Company believes this to be the final funding round, taking the Company to break-even late in 2006. |
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| About Nanotech Semiconductor Nanotech is a UK based fabless chip company, focused on Analog and mixed-signal ICs principally for fiber-optics based communications. www.nanosemi.co.uk |
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| About Pond Venture Partners Pond Venture Partners Ltd. manages venture capital funds exclusively targeting early-stage technology companies in the UK and Europe. By working closely with founders and management to add value to its companies, through customer introductions at senior levels, helping establish US and Asian operations, and managing subsequent venture rounds, Pond is bringing Silicon Valley-style venture capital to Europe. With offices in London and Silicon Valley, Pond has $90 million under management. Pond is regulated by the FSA. www.pondventures.com e-mail: richard@pondventures.com, phone +44 208 940 1001 |
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About Atlantic Bridge Ventures |
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