Ventureast Invests to Drive Customer Acquisition and Further Development of the Disruptive Technology
POWAY, California, July 11, 2011 – Orca Systems, Inc., a fabless semiconductor and intellectual property licensing company creating advanced CMOS radios for wireless technology, announced that it has closed series B funding of over $5 million from new investor Ventureast. The round brings Orca’s total financing to approximately $7 million. Additionally, Raghu Mendu and Siddhartha Das, both General Partners of Ventureast, have joined Orca’s Board of Directors.
"With the accelerating adoption of wireless communication in consumer products, we were looking for emerging leaders like Orca with game‐changing technology and strong leadership to execute their vision. Orca has demonstrated path breaking, world‐class innovation with significant capital efficiency by leveraging the immense talent pool in India" said Raghu Mendu.
"We appreciate the recognition from the investment community. This support from a seasoned VC firm further validates our technology and underscores the immense market opportunity we address," said Guruswami Sridharan, CEO of Orca Systems. "We are executing on our vision and this additional capital provides the fuel to drive new product development in addition to marketing and sales initiatives to win customers and grow our market share.”
One of the earliest funds in India, Ventureast is a pioneering venture capital firm with over a decade of investing experience in seed, early and growth stage companies in India. Guided by a singular vision, Ventureast has enabled over 50 businesses in ICT – Technology, Healthcare & Life Sciences, Cleantech, besides other emerging sectors. For further information please visit www.ventureast.net
About Orca Systems, Inc.
Orca Systems, Inc., is a fabless semiconductor and intellectual property licensing company providing highly integrated radio frequency (RF) and modem technology delivering leading edge solutions for high performance wireless applications. The foundation for Orca’s solutions is DSP‐RF™ an innovative technology platform that provides industry leading silicon area, power consumption and RF performance across a wide range of applications. Orca is headquartered in Poway, California, and has a development office in Bangalore, India. For further information please visit www.orcasystems.com.