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Peraso Closes Oversubscribed $20 Million Equity Financing Led by Roadmap Innovation Fund
Peraso Poised for Leadership Position in WiGig® IC Sales
TORONTO, ON, October 29th, 2014 – Peraso Technologies Inc., a leader in Wireless Gigabit (WiGig®) chipsets, announced today that it has closed a $20 million funding round. The oversubscribed round was led by new investor Roadmap Capital, with additional financing from existing investors Celtic House Venture Partners, Ontario Emerging Technologies Fund (OETF) and VentureLink Funds.
Peraso is a provider of low cost, low power multi-gigabit wireless connectivity solutions. The investment will be used to bring all of Peraso’s WiGig® technology into production and to significantly increase the company’s sales and marketing activities.
“We are excited to welcome Roadmap Capital as a new investor,” said Ron Glibbery, President and CEO of Peraso. “Peraso has established itself as a leader in WiGig® chipsets. With this equity funding we are accelerating the full commercial deployment of our existing silicon and the development of our next generation of phased array products.”
“We’re thrilled with the opportunity to help Peraso consolidate and build upon its position as a global leader in the WiGig® high-speed wireless IC market, offering solutions for consumer electronics as well as for small cell backhaul. We consider Peraso to be one of the most exciting growth opportunities in the millimetre wave (mm-wave) technology field and the future of 5G networks,” said Imed Zine, Partner at Roadmap Capital.
Hugh Cleland, CEO of Roadmap Capital adds, “Roadmap Capital was pleased to be able to lead this financing and provide our investor base with an opportunity to co-invest with our Funds in a global leader such as Peraso.”
“Having backed Ron and his team from day one, Celtic House is very pleased with Peraso’s progress in bringing its products into production in less time and with less capital than its closest competitors,” said Brian Antonen, Partner at Celtic House and Peraso board member. “Peraso has developed a superior WiGig® solution both on a technical and system cost basis. With this latest round of equity funding in place, we believe that Peraso is well-positioned to deliver on market demand as WiGig® volumes ramp up in 2015.”
Peraso will be demonstrating its latest consumer electronics ICs at CES 2015. For further details, please visit http://www.perasotech.com/.
About Peraso Technologies, Inc.
Peraso is a fabless semiconductor company headquartered in Toronto, Canada. The company is focussed on the development of 60 GHz chip sets and solutions compliant with the IEEE 802.11ad specification. 60 GHz has been adopted for interoperability certification by the WiFi Alliance under the WiGig® brand, and WiGig® has seen strong industry endorsement by tech giants such as Samsung, Qualcomm and Intel. For more information, visit www.perasotech.com.
About Roadmap Capital
About Celtic House Venture Partners
Since 1994, Celtic House Venture Partners has been one of Canada’s most active investors in technology and innovation. Capitalizing on its deep domain expertise, Celtic House has collaborated with management teams and repeat entrepreneurs to develop technology companies from the inception phase through to exit, generating 25 initial public offerings and successful acquisitions. Celtic House currently manages in excess of $425 million across three funds. For more information, visit www.celtic-house.com.
About OETF
The principal business of the Ontario Capital Growth Corporation is to manage the limited partnership interests of the Province of Ontario in the Ontario Venture Capital Fund LP (OVCF) and the Northleaf Venture Catalyst Fund LP (NVCF) and to manage and operate the Ontario Emerging Technologies Fund (OETF). For more information please visit: www.ontario.ca/ocgc
About VentureLink Innovation Fund
VentureLink Innovation Fund manages a maturing portfolio of private investments in technology and traditional industry companies based in the province of Ontario, Canada. An early supporter, VentureLink has been a participant in each of Peraso’s investment rounds. For more information, visit www.venturelinkfunds.com
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