Peraso Technologies Inc., a Toronto, Canada-based fabless semiconductor company, raised an additional $42M in financing.
The round was co-led by two strategic investors and existing investor Roadmap Capital.
The company intends to use the funds to increase sales in fixed wireless access and wireless networking.
Led by Bill McLean, President and CEO, Peraso Technologies is a fabless semiconductor company leader in the development of mmWave technology and Wireless Gigabit (WiGig®) chipsets. Its initial products are 60 GHz chipsets and solutions compliant with the IEEE 802.11ad specification.
In the Fixed Wireless Access market, OEMs have concluded that the 5GHz band has become too congested, and as such, continuing to utilize traditional WiFi technology such as 802.11ax offers diminishing returns. The 60 GHz band offers wireless ISPs uncongested spectrum at highly competitive price points.