eoSemi secures $2.3 million second tranche of funding

eoSemi, the all-silicon oscillator company, has confirmed that it has secured a $2.3million (£1.5milion) second tranche of funding. All of the company’s existing investors, including NESTA Investments, Capital-E, and EV, participated in the latest round of financing.
eoSemi’s core technology enables new timing devices based entirely on silicon circuitry. These can replace the costly, bulky and unreliable external quartz crystals that are still used in even the newest consumer and industrial devices, from mobile phones to televisions. eoSemi’s new silicon approach allows a timing reference to be placed directly onto a silicon chip, reducing the number of parts required for each device and therefore the cost and size.
“A viable, cost-effective silicon timing solution is the holy grail for chip designers and makers of consumer products around the world,” said Mark Sherwood, CEO at specialist industry analyst firm CS&A. “Such a solution would immediately cut costs and improve reliability: but just as important, it will open the path to silicon integration, which has been the historic driver for the whole of today’s electronics industry.”

“The continuing commitment of our investors is a ringing endorsement, not only of our core technology, but also of the progress made by our team towards bringing that technology to market,” said eoSemi CEO Ian Macbeth. “We are addressing a long-term market opportunity in excess of $4bn, and moving confidently from early-stage technology development towards commercial success.”

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