PolyTechnos invests EUR 3.5 million in NemeriX S.A. as part of EUR 9.0 million series-B fundraising

July 12, 2004

1 Min Read

MUNICH -- PolyTechnos Venture-Partners, a leading European venture capital firm headquartered in Munich, Germany, announces its advised funds’ participation with EUR 3.5 million in the EUR 9.0 million Series-B funding of NemeriX S.A., a provider of GPS chipsets, located in Manno (near Lugano), Switzerland. Co-investors include Atila Ventures (CH), Auriga Partners (F), and Venture Incubator (CH).

Founded in April 2002, NemeriX is a fabless semiconductor company based in Manno, Switzerland. NemeriX specialises in the development of low power, high performance Global Positioning System (“GPS”) receiver and baseband chip-sets for applications in rapidly growing markets, such as Location Based Services (“LBS”) for mobile handsets and other applications, including automotive navigation, telematics, logistics and people tracking. These markets are expected to exceed EUR 4.5b in 2006.

NemeriX’s unique selling proposition lies in its proprietary architecture which delivers significant reductions in power consumption and size or “foot-print”, while providing very rapid positioning. NemeriX’s solution is compatible with all mobile handset hardware and software architectures, including the new A-GPS standard.

NemeriX’s renowned technical team originates from the ETH Zurich. Its CEO, Ken Hawk, is a successful Silicon Valley serial entrepreneur. The proceeds of this fundraising will be used for production ramp-up, expansion into new markets, and release of a new chipset with deep-indoor capabilities.

“We are delighted to be a part of this exceptional team. NemeriX has proven the attractiveness of its products and is well-positioned to become a leading GPS chipset provider in rapidly expanding LBS and logistics markets”, says Eric Achtmann, Managing Partner at PolyTechnos Venture-Partners.

NemeriX S.A.

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