Thursday, December 10, 2009

RedMere Closes US$5.6m Funding Round

Dublin, Ireland – December 10th 2009 – RedMere, the leading supplier of smart active cable solutions, has secured US$5.6 million in Series “B” funding which was led by Celtic House Venture Partners, Toronto. The round follows major design wins for the company’s products in US and European markets for HDMI smart cables.

EdgeStone Capital Partners (Toronto) and Enterprise Equity (Dublin) also participated in this funding round.

“Our EyeWire active chipset has now been adopted in Home Theatre and Camera cable applications worldwide. The thin nature of the cables makes them easy to route and hide, and their reduced weight makes them ideal for portability. This funding round will be used primarily to expand our penetration into the camera and mobile handset (Smartphone) markets”, commented Peter Smyth, CEO RedMere. “These cables are ultra thin, about 2mm in diameter, perfect for carrying with these portable applications”.

RedMere’s EyeWire chip technology removes up to 80% of the copper used in hi-definition video cables by placing a self-powered chip in cables. The chip embeds signal processing technology directly into the cable structure to improve bandwidth performance and guarantees support for all HDMI data rates including the latest HDMI V1.4.

About RedMere
In a world where connection speed increases, RedMere enables easy to use, high quality, smart connectivity for The Home, On the Move and The Office. These new active cable systems deliver the ultimate in compact digital connectivity over HDMI, DisplayPort and USB for Video and Still Cameras, Smartphones, HDTV, Blu-Ray DVD, PS3 and Xbox, as well as enterprise solutions using Infiniband and PCI Express. RedMere provides cable-embedded semiconductors and advanced cable reference designs to cable industry leaders and manufacturing partners. RedMere is a private company with lead investors Celtic House Venture Partners and EdgeStone Capital Partners.

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