Icera Scores $22.5MIcera Scores $22.5M

BRISTOL, U.K. -- Icera the UK-based, fabless semiconductor start-up company, today announced that it has successfully completed a second round of venture funding totalling $22.5M. This was led by Accel Partners, a global venture firm with offices in Palo Alto, California and London, UK and was joined by Icera's existing venture investors, Benchmark Capital and Atlas Venture.

Founded in 2002, Icera has now raised total funding of $33M, believed to be amongst the largest so far in the current semiconductor cycle for a start-up, with this latest round being heavily over-subscribed. Icera is designing and building silicon chips for tomorrow's wireless terminals.

Since its formation, the Company has been building its engineering team at its R&D centre in Bristol UK, comprised of wireless algorithm, system and software engineers and full custom microprocessor designers. Icera has proven a magnet for many of the world's leading wireless and processor experts, from the UK, the US and across Europe. This new funding is intended to further develop the team, accelerate the completion of Icera's technology development, and to bring its first products to market.

"We are delighted to welcome Accel as a major invester in Icera. As a tier 1 global venture firm, with a network in the US, Asia and Europe, Accel brings enormous experience from its outstanding track record in funding category-defining technology companies that include AMCC, Real Networks and Macromedia," said Stan Boland, President & CEO of Icera. "We now have three outstanding and complementary venture investors in the Company and look forward to working with them as we build from Europe a strong, permanent semiconductor business in a rapidly-expanding market."

Icera Semiconductor