Nanoradio AB, the new market leader in low power WiFi, announced it has completed financing round B with 11.5MUSD to secure volume ramping of its first generation WiFi chipset solution named NRX700 for portable electronic devices.
The syndicate of four Venture Capital funds consisting of Nordic Venture Partners, Innovacom, Teknoinvest and Industrifonden from round A thereby demonstrates their commitment and trust in the Nanoradio business by granting also round B investment to Nanoradio AB with Headquarters in Kista, Sweden.
"The NRX700 chipset has got a fantastic response and Nanoradio has already been selected by a number of tier 1 customers as supplier number one, replacing other famous brand names. " says Par Bergsten, CEO of Nanoradio AB.
The NRX700, launched to beta customers in February this year, is meeting the growing demand for Voice over IP , driven by the fixed to cellular convergence, as well as the revolution in media content transforming to digital mobile media supported by standards such as UMA (Unlicensed Mobile Access) and IMS (IP Multimedia Subsystem).
"The market for low power WiFi is taking off right now and Nanoradio has the best offering at this point in time." says Mr Bergsten.
The NRX700, with a total die size of only 20mm2 is the smallest footprint in the market. Additionally, it has the lowest power consumption in the world in transmit, receive and stand-by compared to any one or two chip solution in the market today.
The target markets are mobile phones, portable media devices and other battery driven handheld consumer devices for which the NRX700 has been optimized to meet critical parameters such as power, size and cost demands.
Additionally to the exceptional performance, Nanoradio is the first in the world to support the emerging need for WLAN into headsets and other audio devices and has demonstrated a full form fit function WLAN stereo HiFi headset using the NRX700 chipset at the 3GSM and the CeBit shows and can now together with a VoIP demo be seem at the CommunicAsia2006 show in Singapore later this week.
Evaluation kits of the NRX700 and NRG720 (System in Package solution) are available immediately, with production quantities available from October 2006.
Nanoradio has expanded by over 200 % since May 2005 when it received funding by the investor syndicate and can now support customers locally by representation in Japan, Korea, Taiwan, USA and Europe as well as an extensive partner network.