Elonics Ltd., a Livingston, UK-based A fabless semiconductor company, closed a £6.1m (approximately $9.5m) Series B financing round.
The investment was led by Scottish Equity Partners, with participation from Octopus Ventures and other existing backers.
The new capital will allow the company to accelerate the expansion of the overseas sales team with the opening of regional offices in Taiwan and China.
In addition, Elonics will bolster its engineering team at its main UK base in Livingston.
Founded in 2003, the company has developed an innovative CMOS RF tuner technology, which aims to improve signal path management to support television and radio standards across the globe.
Commenting on the funding, David Milne, Chairman of Elonics, said: “It is an exciting time for Elonics as we look to use this significant new investment to drive the business forward.
“I believe that the company’s ability to attract this new investment highlights the quality of the Elonics team, the attractiveness of the product proposition and the growth prospects for RF tuner technology in the global television and radio business”.
FinSMEs
06/09/2010