News: eoSemi secures £3m investment
Rotherham-based semiconductor company eoSemi has closed a £3m funding round led by NESTA Investments and Capital-E alongside existing investors Enterprise Ventures (EV) via its RisingStars Growth Fund II and South Yorkshire Investment Fund.
From their base on the Advanced Manufacturing Park, eoSemi is developing a silicon solution that replaces quartz crystals, allowing a move away from physically-vibrating devices and the associated high manufacturing cost, large package size and susceptibility to shock.
A vibrating crystal is still used in nearly every electronic device on the planet to provide a stable timing reference. eoSemi will use the investment to bring a new timing device to market, based entirely on silicon circuitry.
Ian Macbeth, CEO of eoSemi, said: "This investment represents a major milestone for eoSemi as we make the transition from a successful early-stage technology startup into a commercial enterprise facing a tremendous global market.
"We welcome NESTA and Capital-E who join Enterprise Ventures in supporting the business and in providing the opportunity to move forward. This is an investor group with great outreach that can clearly help place eoSemi on a strong footing."
Libby Kinsey, Investment Manager, at NESTA investments said: "We have worked with eoSemi for a year and are proud to be part of a company that combines a billion dollar addressable market with a world-class technical and commercial team.
"Standing on the shoulders of the UK's successful microelectronics industry this deal shows that there are great opportunities for investors in the sector and demonstrates NESTA'S commitment to investing in the UK's most promising technology based businesses."
eoSemi website
From their base on the Advanced Manufacturing Park, eoSemi is developing a silicon solution that replaces quartz crystals, allowing a move away from physically-vibrating devices and the associated high manufacturing cost, large package size and susceptibility to shock.
A vibrating crystal is still used in nearly every electronic device on the planet to provide a stable timing reference. eoSemi will use the investment to bring a new timing device to market, based entirely on silicon circuitry.
Ian Macbeth, CEO of eoSemi, said: "This investment represents a major milestone for eoSemi as we make the transition from a successful early-stage technology startup into a commercial enterprise facing a tremendous global market.
"We welcome NESTA and Capital-E who join Enterprise Ventures in supporting the business and in providing the opportunity to move forward. This is an investor group with great outreach that can clearly help place eoSemi on a strong footing."
Libby Kinsey, Investment Manager, at NESTA investments said: "We have worked with eoSemi for a year and are proud to be part of a company that combines a billion dollar addressable market with a world-class technical and commercial team.
"Standing on the shoulders of the UK's successful microelectronics industry this deal shows that there are great opportunities for investors in the sector and demonstrates NESTA'S commitment to investing in the UK's most promising technology based businesses."
eoSemi website
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