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BitWave Closes $10M Round

BitWave Semiconductor closes successful $10M B-Round funding

August 18, 2008

1 Min Read

LOWELL, Mass. -- BitWave Semiconductor today announced that it had closed $10 million of additional financing in an initial Series B funding round. The financing was provided by BitWave's existing investors: Apex Venture Partners, TVM Capital, and ECentury Capital Partners. The funding will be used to realize commercialization of BitWave's BW1102 Softransceiver(tm) RFIC as the BW1102 moves into full volume production during Q4/2008 for fulfillment of initial supply contracts.

Wayne Boulais, Managing Partner at Apex Venture Partners, stated for the investors that "the successful completion of BitWave's B-round highlights the investor's continued enthusiasm in BitWave. The investors strongly believe that the markets for BitWave products will continue to expand as BitWave transitions to full production in the coming months; we remain fully committed to BitWave's success."

BitWave Semiconductor Inc.

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