NemeriX raises US$22M in additional funding



NemeriX raises US$22M in additional funding
NemeriX, a Switzerland-based fabless GPS semiconductor manufacteur, today announced the closing of a $22m (CHF 27m) financing round. All existing investors: Atila Venture Partners, Auriga Partners, Oak Investment Partners, PolyTechnos Venture-Partners and VI Partners participated.

NemeriX focuses on the development of low power GPS systems particularly dedicated to mobile phones. The company claims 60% power savings compared to similar GPS designs.

With this new round of funding investors continue to bet on the Lugano start-up. The recent acquisitions of Centrality by SiRF, Global Locate by Broadcom and NordNav and CPS by CSR, show that attracting the interest of a big silicon vendor might be the easiest exit road for the current investors. Moving forward the market concentration and the price reduction will make life harder for the smaller entities.

Monday, September 17th 2007

Nav & Telematics | Sport and Outdoor | Location Based Services | Tech & Innovation | Market Data | Finance & Legal | People and Jobs | Voices of the industry | Press Releases