Peraso Technologies, Inc. Completes $10M Financing Round
Peraso to Commercialize mmWave Technology
Toronto, October 5, 2009 - Peraso Technologies, Inc. a fabless semiconductor company focused on the development of multi-gigabit mmwave transceivers, today announced that it has secured $10 million (CDN) in Series A funding. The investment group is comprised of leading Canadian VC’s, including Celtic House Venture Partners, iNovia Capital and VentureLink Funds. The financing will be used to develop and commercialize mmwave integrated circuits (ICs).
“Peraso’s team has proven start-up experience including commercial success in communication networking devices,” said Celtic House Partner Brian Antonen. “The technical team is recognized as one of the top research groups in the world focused on mmwave technology. We expect Peraso to take advantage of synergies with Celtic House’s portfolio of consumer electronics-focused companies by leveraging their technology and customer relationships.”
“With our own internal expertise in communication ICs, we recognized the value proposition of mmwave technology” explained Shawn Abbott, partner with iNovia Capital. “mmWave wireless devices have the potential to provide an order of magnitude improvement in raw bandwidth performance in a highly energy efficient manner.”
“We feel the Peraso team has a real feel for the financial metrics necessary to establish a successful technology venture” states Jim Whitaker, Managing Partner at VentureLink Funds “The efficient use of capital is critical in an emerging technology start-up.”
“The relevant domain experience of our investors was an important factor in our ability to raise the financing.” stated Ron Glibbery, President and CEO of Peraso. “The broad array of market opportunities afforded by mmwave technology, coupled with world class intellectual property, was immediately recognized as a compelling investment opportunity.”
About Peraso Technologies
Peraso is a fabless semiconductor company focused on the development of mmwave single-chip transceivers. Peraso’s 60 GHz transceivers, compliant with emerging 60 GHz standards in the mobile consumer electronics market, are characterized by low power consumption, small footprint and optimal system implementation. For more information, please visitwww.perasotech.com.
About Celtic House Venture Partners
For over 15 years, Celtic House Venture Partners has been Canada’s most active investor in private information and communications technology companies. Applying a unique architectural approach to investing and capitalizing on the deep domain expertise of its partners, Celtic House has consistently provided superior financial returns to its investors. With $315 million under management, Celtic House has collaborated with management teams and repeat entrepreneurs to develop platform technology companies from the inception phase through to exit, generating over 20 initial public offerings and successful acquisitions. For more information, please visit www.celtic-house.com.
About iNovia Capital
iNovia provides venture capital to entrepreneurs who transform innovations into successful companies. The team is comprised of sector experts in information technology, life sciences, and clean tech. In addition, iNovia’s extensive network of industry and academic partners provides portfolio companies with unique access to intellectual property. iNovia has $165M under management across two seed and early stage funds. For more information, visitwww.inoviacapital.com or follow iNovia on Twitter at http://twitter.com/iNovia
With over $250 million under management, VentureLink Funds is a diverse group of labour-sponsored funds (”LSIF”). VentureLink Funds give investors access to well-diversified portfolios of established companies operating in traditional industries such as financial, manufacturing and service industries as well as dynamic industries like alternative energy.
The company maintains a strong relationship with CI Financial Inc., who performs client services and client account administration for the Funds. For more information, please visit:www.venturelinkfunds.com.
For Peraso Technologies:
Ron Glibbery 416.681.7485
For Celtic House:
Tomas Valis 416.924.7000
For iNovia Capital:
Tara Pellegrino 514.982.2251 x300
Jim Whitaker 416.681.6370