NemeriX Receives $22M in Series-C Funding
Financing round allows continued development of innovative GPS solutions focused on personal navigation and mobile handset customersManno, Switzerland, September 17, 2007:
NemeriX, a leading A-GPS solution provider based near Lugano, Switzerland, closed a $22m (CHF 27m) financing round. All existing investors (Atila Venture Partners, Auriga Partners, Oak Investment Partners, PolyTechnos Venture-Partners and VI Partners) participated.
NemeriX is a fabless semiconductor company offering the world's lowest power Global Positioning System ("GPS") and Location Based Services ("LBS") platforms in rapidly growing markets such as mobile handsets and personal navigation devices. Semiconductor revenues in these markets are expected to reach $1bn by 2010.
Offering the lowest power GPS solutions on the market today, NemeriX's hosted A-GPS solutions integrate extended ephemeris assistance, SUPL and sensor-based inputs. This allows NemeriX's customers the ability to offer differentiated products and deliver an enhanced consumer experience.
"This funding round will enable NemeriX to outperform the growth of the market, while continuing to provide our customers the support they need to get their products to market faster" explained Steve Rees, Chairman of the Board. "We have made tremendous progress in terms of building a strong team comprising highly experienced semiconductor and GPS technology experts and now have a clearly differentiated product portfolio which has resulted in many new customer relationships globally".
Founded in April 2002, NemeriX S.A. (Manno, Switzerland) is a venture-backed fabless semiconductor company specializing in ultra low power GPS and LBS integrated circuits, software and firmware for GPS and wireless applications. NemeriX's devices enable battery powered location determination anywhere, anytime, facilitating the design and manufacture of truly differentiated products for both consumer and professional markets. For more information about NemeriX, please visit www.nemerix.com
About Atila Ventures
Atila Ventures was founded in 1999 with the goal of providing capital, operating and other value adding resources to entrepreneurs in Europe. The experience gained in Silicon Valley, Europe and Asia in the high growth technology sector is used to provide entrepreneurs with venture capital, advice and networking. All professionals at Atila Ventures have operational experience in either Microelectronics, Datacommunications or Information Technology in order to provide real world guidance to entrepreneurs and their companies. Atila Ventures is based in Lausanne (Switzerland). www.atilaventures.com
About Auriga Partners
Since 1990, AURIGA PARTNERS has been managing several early stage venture funds specializing in Information Technology and Life Sciences. Their experienced management team of eight complements one another in education, experience, and sector specialization. Along with investing the necessary capital, they also bring our savoir-faire in developing and solidifying the executive team, organizing the company, and forming strategic and corporate partnerships. As investors, Auriga actively contributes to defining the appropriate financial strategy, as well as, assisting their portfolio companies in raising future capital. They are dedicated to providing a broad network of contacts capable of accelerating internationalization, and furthering strategic partnerships and business deals. Auriga Partners is based in Paris (France). www.aurigapartners.com
Cadence is the world's largest supplier of electronic design technologies and engineering services. Cadence products and services are used to accelerate and manage the design of semiconductors, computer systems, networking equipment, telecommunications equipment, consumer electronics, and other electronics-based products. With approximately 4,900 employees and 2004 revenues of approximately $1.2 billion, Cadence has sales offices, design centers, and research facilities around the world. The company is headquartered in San Jose, California, and trades on both the New York Stock Exchange and the NASDAQ National Market under the symbol CDN. www.cadence.com
About Oak Investment Partners
Oak Investment Partners is a multi-stage venture capital firm with a total of $8.4 billion in committed capital. The primary investment focus is on high growth opportunities in communications, information technology, internet new media, financial services information technology, healthcare services and consumer retail. Over a 28-year history, Oak has achieved a strong track record as a stage-independent investor funding more than 435 companies at key points in their lifecycle. Oak has been involved in the formation of companies, funded spinouts of operating divisions and technology assets, and provided growth equity to mid- and late-stage private businesses and to public companies through PIPE investments. Oak has helped innovators exploit new business opportunities and anticipate trends through long-term relationships that endure the changing economic landscape. Their accomplishments can be best recognized through the success of their companies and the ability to deliver consistent performance over time. www.oakvc.com
About PolyTechnos Venture-Partners
PolyTechnos is an independent European venture capital firm focusing on privately held technology and life science companies in early to expansion stages of development, predominantly in German-speaking Europe. Areas of expertise comprise Information Technology & Communications, Industrial & Engineering, Energy, Drug Development, Diagnostics & MedTech, with a special interest in developments at the interface of these fields. The PolyTechnos team combines long standing venture capital investment experience with broad international operational and management expertise based on strong technology and life science backgrounds. PolyTechnos provides support in areas such as strategy, business development, and organization building. PolyTechnos, located in Munich, Germany, was founded in 1998 and currently advises funds totaling approximately EUR 200 million. www.polytechnos.com
About Venture Incubator AG
Venture Incubator is a Swiss venture capital firm that supports university spin-off's as well as other promising start-up companies with capital, coaching, and excellent industry networks. They invest "Smart Money" to develop promising technology-based ideas for products and services into successful businesses. Venture Incubator, launched in 2001, manages an investment fund of CHF 101 million. VI's investors represent 10 Swiss blue-chip enterprises from industry and finance. In addition they have strategic partnerships with McKinsey & Company and the Swiss Federal Institute of Technology in Zrich (ETHZ). Venture Incubator is located in Zug (Switzerland). www.ventureincubator.ch
Contact NemeriX S.A.