Funding Positions Company to Ramp Volume Production of Certified Wireless USB solutions
Amadeus Capital Partners, Accel Partners and Index Ventures have led a $26.5 million Series ‘B’ round of funding in Artimi Inc., a developer of wireless semiconductors for portable Certified Wireless USB consumer electronics. All three investors invested in the Series ‘A’ round in 2004. Oak Investment Partners, who also invested in 2004, together with new investor, Bank of Scotland Growth Equity, have participated in this ‘B’ round.
Artimi is experiencing strong demand for its interoperable, low-power, semiconductors for Certified Wireless USB and next-generation Bluetooth applications, including digital cameras, camcorders, storage devices, MP3 players and mobile phones. Artimi’s semiconductors are compliant with all global standards.
The new funding allows Artimi to invest heavily in further product development, expand sales and marketing and continue delivering new technology for high data rate wireless personal area networks.
Hermann Hauser, who represents Amadeus funds on the Board of Artimi, said: “Artimi has made excellent progress since 2004 and is well on the way to getting its product to a huge global market. We are delighted to continue our support of this outstanding team.”
“Validated by leading consumer electronics manufacturers, Artimi’s low-power A-150 MAC has demonstrated the highest data throughput in the market,” said Giuseppe Zocco, general partner with Index Ventures, and Artimi chairman. “T he company is ideally positioned for significant market traction with Tier-1 consumer electronics manufacturers just as W ireless USB chips are starting to ship in volume.”
Colin Macnab, CEO of Artimi, added: “ This financing, one of the largest in the Ultra Wideband segment, provides Artimi with the financial resources necessary to solidify and sustain a leadership position as the market transitions to mass production.”