|
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.
|