Peraso Technologies, Inc. Completes $10M Financing Round Peraso to Commercialize mmWave Technology
Posted on October 5, 2009
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.”