SyChip secures $20 million in financing led by Austin Ventures

June 2, 2004

1 Min Read

PLANO, Texas -- SyChip, Inc., a leading provider of Radio Frequency Chip Scale Modules (RF-CSM) for the wireless market, today announced that it has completed its fourth round of private equity funding of $20 million. The round was led by Austin Ventures and included new investors, The Ignite Group and Silicon Valley Bank Ventures, as well as existing investors 3i US, Alliance Technology Ventures and New Venture Partners.

SyChip has gained considerable traction in its chosen target markets having already ramped to high volume production with multiple tier one customers. Last year SyChip led the market by integrating its leading 802.11 embedded CSM/System in Package (SIP) modules into PDAs and Point of Sale Terminals offered by leading OEMs in Japan, Korea and the USA. The PDAs supported include both WinCE and Palm operating system based models. The company also successfully launched its award winning SDIO card into the retail market through SanDisk and Socket communications. SyChip's interface technology will also extend into next-generation combination SD cards that incorporate both WLAN and memory functions.

This expansion round of funding will accelerate the introduction of several next-generation, RF CSM/SIP modules targeted to cellular phones, VoWLAN phones and consumer-based devices such as media players, digital still and video cameras. In addition, the company plans to broaden its Asian and European sales efforts and to increase its software development capacity.

"We are very excited to be able to tap into Austin Venture's extensive experience in the Semiconductor Systems Packaging and Communications Markets," said George Barber, President and CEO of SyChip.

SyChip Inc.

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