Icera, a fabless semiconductor firm, has announced that its investors have provided a further US$45 million in equity capital to accelerate the growth of its market share. All existing preferred shareholders, including Accel Ventures, Amadeus Capital Partners, Atlas Venture, Balderton Capital and DFJ Esprit, participated in the funding round.
The new financing will also provide additional funding for the Company's expansion into the fast growing smartphone market.
Stan Boland, President & CEO, Icera said: "We are delighted to attract additional equity financing for our business. It comes at a time when we are achieving strong endorsement from mobile network operators and a sharp growth in our shipments to the world's largest device manufacturers. The new funding will allow us to expand our customer-facing engineering support and accelerate the dates we propel our technology into the fast-growing smartphone market. Here, our advanced receiver technologies will bring real user gains whilst materially reducing network operators' cost of service delivery."
Icera's Adaptive Wireless modem technology is focused today on 3G and 2G voice and data modem chipsets and firmware, with LTE scheduled in the near future. Adaptive Wireless executes the entire modem in software on a new Icera processor.
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