Bristol, UK, May 19, 2010 Icera Inc., the mobile broadband semiconductor company, today announced that its investors have provided a further $45M in equity capital to accelerate the growth of its market share. All existing preferred shareholders, including Accel Ventures, Amadeus Capital Partners, Atlas Venture, Balderton Capital and DFJ Esprit, participated fully in the funding round.
Icera is continuing to extend its global market share for chipsets used in high performance, high speed mobile broadband devices, such as USB modem sticks and embedded modules for notebooks, netbooks, tablets and other emerging devices. The new financing will also provide additional funding for the Company's expansion into the fast growing smartphone market.
Stan Boland, President & CEO, Icera Inc, said: "We are delighted to attract additional equity financing for our business. It comes at a time when we are achieving strong endorsement from mobile network operators and a sharp growth in our shipments to the world's largest device manufacturers. The new funding will allow us to expand our customer-facing engineering support and accelerate the dates we propel our technology into the fast-growing smartphone market. Here, our advanced receiver technologies will bring real user gains whilst materially reducing network operators' cost of service delivery."
Kevin Comolli, Managing General Partner at Accel Partners, said: "We're impressed with Icera's strong revenue growth, the diversification of its customer base as it delivers this growth and its continued technology and performance leadership, ensuring its products are strongly differentiated in very large end-markets."
Icera's Adaptive Wireless™ modem technology is focused today on 3G (HSPA+, HSPA) and 2G (GSM, GPRS, EDGE) cellular voice and data modem chipsets and firmware, with 4G (LTE) scheduled in the near future. Adaptive Wireless™ executes the entire modem in software on a new Icera high performance processor.
Icera is a fabless semiconductor company, pioneering high performance, low power, soft modem chipsets for the fast growing mobile broadband device market. Icera technology delivers the highest performance modem solutions for USB dongles, laptops, netbooks and smartphones. Founded in 2002, Icera is headquartered in the UK, with design locations in the UK, France, USA and China, with customer engineering and sales offices in Europe, Asia and the USA. For more information, visit the Icera web site at www.icerasemi.com.