TEL AVIV, Israel-Wisair announced it secured $20 million in its latest round of funding. The company said it will use the cash to transition to “volume production and broad market expansion.”
The ultra-wideband and wireless USB chipset maker said the funding came about as a result of demonstrating its Wireless USB Hub reference design and its high performance 480 megabits per second operation at the Consumer Electronics Show in Las Vegas in early January.
“Wisair is at an exciting juncture in its growth as it has already created significant penetration in the market, with more than 80 customers adopting our development systems and reference designs that are based on our industry-proven chipsets,” said David Yaish, president and chief executive of Wisair. “With the new funds, we can continue to focus on expanding our sales channels and move to production shipment of our chipsets.”
Apax Partners led the round, and was joined by new investor Tomen Electronics as well as other strategic investors.
“Wisair has demonstrated that it is a first-tier player in the UWB and Wireless USB space as it was first to market with WiMedia-based UWB chipsets, UWB development kits, reference designs, and also to receive FCC certification for its UWB technology,” noted Meirav Har Noy at Apax Partners.
