Icera today announced that it has secured a further $45M in equity capital to accelerate the growth of its market share.
Icera today announced that it has secured 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’s Adaptive Wirelessâ„¢ 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 Wirelessâ„¢ executes the entire modem in software on a new Icera high performance processor.
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.
“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.” said Stan Boland, President & CEO, Icera.
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.”