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November 20, 2009
UK's picoChip Hitches $20M from Cautious VCs
At a time when venture investors are cautious, picoChip today announced that it has completed a $20M (€13M) round of funding. The round points not only to the confidence of investors but also to the leadership, strength and game-changing technology of picoChip, which has been a first mover in femtocell technology since 2005. Atlas Venture, Highland Capital Partners, Pond Venture Partners, Scottish Equity Partners, and Rothschild are some of the principal investors in picoChip, along with strategic investors AT&T, Intel and Samsung.
picoChip is a pioneer and unsurprisingly the dominant supplier for femtocell silicon. Many see it as the next generation of wireless technology. ABI Research indicates the growth of femtocell market to reach 2.3 million units in 2010, and rising to 40 million units by 2014. Six major network operators have launched femtocell services that cover USA, Europe and Asia, in 2009. Most carrier's HSPA roll-outs depend on picoChip's leading technology and seventeen customers are already using the field-proven picoXcell™ product. Strategy for picoChip is to have an end-to-end femtocell reference solution that can seamlessly enter homes, minimize cost and arrive on-time in the market.
By Raghuraman R
Posted on November 20, 2009 02:57 PM | Posted to Semiconductors | Venture Capital | Wireless | Permalink
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