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News >> Technology >>
Rajeev's TZero zeroes in on $15 M funding
By siliconindia staff writer
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Tuesday, 31 August 2004, 19:30 IST
SUNNYVALE: TZero Technologies Inc., a developer of ultra wideband (UWB) chipsets and solutions, has closed their round of funding totaling $15.5 million. The financing was led by Lightspeed Venture Partners with participation from VentureTech Alliance, the investment management arm of TSMC, and existing investors August Capital and US Venture Partners, confirms Rajeev Krishnamoorthy, chief executive and founder of the company.
The company also announced that Chris Schaepe, general partner of Lightspeed Venture Partners, will take a seat on TZero's board of directors, and Jim Diller, general partner of VentureTech Alliance will serve as a board observer. They join Irwin Federman, general partner of US Venture Partners, and Andy Rappaport, general partner of August Capital, who also serve on TZero's board of directors.
TZero will leverage the financing to bring to market its CMOS UWB chipset and software, which are designed to deliver long-range and highly reliable broadband wireless connectivity for consumer electronics (CE), mobile, and networked devices. Key areas of investment will include the rollout and production of the TZero chipset and solutions, as well as sales and marketing. The next-generation UWB semiconductor is scheduled to come to market in 2005.
Ultra wideband is recognized as a primary enabler for the next generation of wireless connectivity, including portable devices and the digital home where personal computing and consumer electronics are converging. The high-bandwidth, low-power and low-cost UWB technology will tap the availability of broadband services to provide the fast, reliable connectivity that businesses and consumers are demanding for large file transfers among mobile devices, consumer electronics, and personal computers.
"We believe that the advantages of UWB technology together with the company's leading-edge development capabilities will create a significant market impact, enhancing commercial wireless infrastructure and enabling broadband wireless delivery of high quality video and audio throughout the home or on the road," said Chris Schaepe, General Partner of Lightspeed Venture Partners. "This team of repeat entrepreneurs has the experience needed to succeed in a large, competitive market; they have created a wireless semiconductor development infrastructure capable of delivering world-class products and sustaining the company over multiple product generations."
Rajeev Krishnamoorthy, founder and CEO of TZero, is one of the industry's most widely recognized experts in networking technology. A pioneer in the development of advanced communications systems, Dr. Krishnamoorthy's work in communications and data networking resulted in the adoption of today's 802.11b wireless LAN standard and to the first commercially available wireless MIMO system.
"We are fortunate to have such a strong syndicate of investors who support our vision, management team, and business model," said Dr. Krishnamoorthy. "The funding, along with our ability to leverage our investors' experience in building successful companies, will position us to take a leadership role as we move from product design to the delivery of next-generation UWB semiconductor solutions."