Peraso Receives $42m from Roadmap Capital to Expand its Business
Peraso Technologies, a fabless semiconductor company and a popular leader in the development of mmWave technology and Wireless Gigabit chipsets raised $42m in the latest round of financing. The funding amount is targeted at expanding business in Fixed Wireless Access and Wireless Networking. It was co-led by two strategic investors and existing investor Roadmap Capital.
Bill McLean, President & CEO, Peraso, comments, “This latest round of funding reaffirms our investors' confidence in the progress that the company is making and the future for both Peraso and the quickly expanding market for mmWave technology-based products. Raising this capital allows us to take our sales to the next level, especially as an increasing number of consumer electronic and wireless infrastructure manufacturers choose to incorporate multi-gigabit wireless connectivity into their products”.
The company is now in production with WiGig IC solutions meant to address next generation WiFi opportunities in the Fixed Wirless Access, as well as wireless networking and 4K wireless video distribution. OEMs concluded that 5GHz band has become too congested, and as such continuing to utilize traditional WiFi technology such as 802.11ax offers diminishing returns. The 60 GHz band offers wireless ISPs uncongested spectrum at highly competitive price points.
“Roadmap is very thrilled to see Peraso bringing new strategic investors to its shareholder base. It is a validation of the superior performance of Peraso's solution. We are very excited to support the growth phase of Peraso in Fixed Wireless, mmWave wireless links for 5G and WiGig-based Consumer Electronics”, says, Imed Zine, PhD, Principal, Roadmap Capital.
Headquartered at Toronto, Peraso focuses on the development of mmWave technology products and solutions. Peraso’s initial products are 60 GHz chipsets and solutions compliant with the IEEE 802.11ad specification. 60 GHz has been adopted for interoperability certification by the WiFi Alliance under the WiGid brand.
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