Tuesday, February 7, 2012

News: eoSemi secures further funding


eoSemi, an innovative company with a base in Rotherham, has secured a £1.5m second tranche of funding. All of the company's existing investors, including NESTA Investments, Capital-E, and EV, participated in the latest round of financing.

With a facility on the Advanced Manufacturing Park, eoSemi is developing a silicon solution that replaces quartz crystals as the way electronic devices keep time, allowing a move away from physically-vibrating devices and the associated high manufacturing cost, large size and susceptibility to shock.

A viable, cost-effective silicon timing solution is considered to be the holy grail for chip designers and makers of consumer products. The new technology not only offers a smaller and lower cost alternative to traditional quartz, it also delivers a timing reference that can be properly integrated with the rest of the electronic system.

eoSemi expects to bring a new timing device to market this year, suitable for a wide range of consumer goods from mobile phones to televisions, as well as in industrial and automotive systems and wireless applications.

Ian Macbeth, CEO at eoSemi, said: "The continuing commitment of our investors is a ringing endorsement, not only of our core technology, but also of the progress made by our team towards bringing that technology to market.

"We are addressing a long-term market opportunity in excess of $4bn, and moving confidently from early-stage technology development towards commercial success."

Libby Kinsey, investment manager at NESTA investments, added: "We are delighted to be able to continue our relationship with eoSemi, as the team continues to execute professionally and deliver on its promises. The UK has a highly successful microelectronics industry, and NESTA is determined to play its part in supporting its development."

eoSemi website

Images: eoSemi


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