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Completes Series B round from Adams Capital Management, Arch Venture Partners, Dow Chemical, TeleSoft Partners, and The Hillman Company
January 7, 2002
SALEM, N.H. -- AmberWave Systems Corporation, the global leader in advanced semiconductor intellectual property (IP), today announced that it has completed its Series B round, raising $25 million from Adams Capital Management, Arch Venture Partners, Dow Chemical, TeleSoft Partners and The Hillman Company and bringing AmberWave's total venture funding to $47 million. The Series B investment was led by The Hillman Company, a Pittsburgh-based diversified investment holding company. All prior investors from AmberWave's first venture round, which was closed in May 2000, maintained or increased their pro rata equity stake. A small group of private investors also participated. "As Moore's Law nears the end of its spectacular run, industry leaders are being forced to expend more and more resources to achieve ever smaller performance gains," said Bill Frezza, general partner at Adams Capital Management. "Strained silicon offers early adopters a chance to leap ahead by shifting to a new materials roadmap offering multiple generations of improvement while still leveraging existing CMOS manufacturing infrastructure. The payoff will be enormous."AmberWave Systems Corp.
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