Staccato Raises $20MStaccato Raises $20M

Staccato Communications, developer of ultrawideband solutions, raises $20M in Series B financing

April 6, 2004

2 Min Read

SAN DIEGO -- Staccato Communications, Inc., a leading innovator in ultrawideband (UWB) wireless solutions, today announced $20 million in Series B funding. The investment comes from existing investors Allegis Capital, Bay Partners, and Charles River Ventures, along with new investor InterWest Partners.

"Staccato Communications is the clear leader in the emerging UWB market," said new investor Tom Rosch of InterWest Partners. "Every once in a while forces align, and a company earns an early advantage in an exciting new space. Only Staccato has both the UWB and the CMOS radio experience that will be needed to become a dominant player going forward."

"Allegis Capital is pleased to have led this investment round and to welcome InterWest to Staccato's investor group," said current board member Jon Funk of Allegis Capital. "This substantial infusion of capital enables the company to capitalize on its early prominent role in this exciting new market."

In recent weeks, Staccato Communications has revealed several important partnerships including an agreement with NEC Electronics to jointly develop high rate (480Mbps) wireless USB products, and with Wisme, a provider of UWB MAC (medium access control) technology. Other recent announcements include Staccato's release of the first MultiBand OFDM Alliance-based UWB development platform (SC1030D), election to the 1394 Trade Association Board of Directors, election to the Wireless USB Promoters Group as a "key contributor", contributor in the WiMedia Alliance, and membership in the Consumer Electronics Association.

"The accelerating timeline to the final standard specification for UWB from the MultiBand OFDM Alliance has accelerated our customers' product plans and, in turn, Staccato's product development plans," said Roberto Aiello, President and CEO, Staccato Communications. "The time to customer adoption of ultrawideband in wireless USB and wireless 1394 products has shortened, and this funding will ensure that we will meet our customers' needs."

Staccato Communications Inc.

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