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News
Issue #2002 - 17 (May 2002)
(Updated May 1, 2002)

ACQUISITIONS, MERGERS & AGREEMENTS

Venture Capital Investments over $10-million Hard to Come By

While the industry elite, including Ericsson, Nokia, and Lucent Technologies, were adding up their bigger than expected quarterly losses and drafting their dismissal outlooks, much smaller players, relative unknowns, were working the phones in search of venture capital, usually securing less than $10-million.

SyChip, Inc.
The Plano, Texas, company, a developer of chips for wireless Internet appliances, has raised an additional $5-million, marking the close of a third funding round at $19.3-million.

Investors include Genesis Park, Global Strategic Investment, Intel Communications Fund, Markpoint Venture fund, Masthead and TechQuest.

The additional funding will allow SyChip to enhance its production of its GPS2020 Global Positioning Satellite Chip Scale Module and to accelerate the development of CMOS based RF-ICs for the 802.11 and GPRS Chip Scale Modules in development.

Redline Communications
A provider of next-generation broadband fixed wireless access equipment Redline Communications has announced it has secured $10-million in financing.

Redline will use the funding to launch its first product, the Access Node 50, a standards-based non-line-of-sight fixed wireless system utilizing OFDM technology.

July Systems
July Systems, a developer of wireless structures for enabling enterprise wireless data services, has said that it has secured $5.5 million in Series A funding. Cross-border venture capital firm WestBridge Capital Partners led this round of investment, with Acer Technology Ventures Asia Pacific and early-stage technology venture firm Jumpstartup as co-investors.

July Systems will use the funding in part to accelerate product development efforts and expand its technology talent-base in Bangalore, India, expecting to double its current workforce by the end of this quarter.

Megisto Systems
Megisto Systems, a developer of carrier-class mobile Internet infrastructure equipment, has raised an additional $5-million in Series B financing. The majority of the funding was provided by Saturn Venture Partners.

The Germantown, Maryland, company said with this additional funding, it has raised a total of $55-million since its $12-million Series A in June 2000.

EnOcean
Based in Frankfurt, Germany, EnOcean, a developer of radio switches and sensors for wireless networks, has raised $4.4-million in first round funding. Investors include enjoyventure Management and Wellington Partners Venture Capital.

Evoxis, Inc.
Evoxis, a developer of messaging technology that allows carriers to send customized voice messages to mobile phone users, has secured $1.2-million in private funding, as it prepares to raise between $7- to $10-million in venture funding.

The new funding, along with an earlier investment of $1-million, will enable the company to develop its sales, marketing and technical infrastructure.

For more information: http://www.sychip.com; http://www.redlinecommunications.com; http://www.julysystems.com; http://www.megistosystems.com; http://www.enocean.com/indexe.html; http://www.evoxis.com

MobileInfo.com’s Comments & Advisory:  The wireless investment climate is improving. For good business plans, there is money out there.

Note: This news release may contain forward-looking statements. Readers should take appropriate caution in developing plans utilizing these products, services and technology architectures.  All trademarks used in this summary are the property of their respective owners.


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