Artimi ramps up Asian operations
Wireless USB chip designer Artimi plans to ramp up its Asian operations in preparation for a concerted commercial push, following the closing of a £13.5m Series B financing.CFO and co-founder, Richard Dellabarca said that Artimi planned to increase production of its A-150 chip and build out its “customer-facing” team – field application engineers and customer support – in addition to its marketing and business development functions.
The company currently employs 74 across its three bases in Cambridge, Taipei and Santa Clara. Increases in headcount will be focused on Artimi’s Taiwan base in order to be close to the company’s major current and prospective customers.
The company’s Wireless USB and next-generation Bluetooth certified A-150 chip boasts data transfer rates of 480 Mb/s at ranges of 10m.
This allows very large files to be transferred wirelessly between digital cameras, camcorders, MP3 players, mobile phones or PDAs, for example.
The technology is unofficially known as Bluetooth 3 as it fulfills the same short range wireless function but at greatly increased data transfer rates.
Dellabarca said Artimi would be unveiling a number of Tier One customer wins in January at an electronics industry event in Las Vegas.
Business Weekly reported in January that the company was seeking to close a Series B financing round before the end of the year, although the target at that stage was $20m, a figure it comfortably exceeded. The round is one of the largest in the segment to date.
CEO Colin McNab said: ”We will use the funding to expand production to support the substantial growth in customer demand for dual-mode Certified Wireless USB and next-generation Bluetooth markets.
“This financing, one of the largest in the ultra-wideband segment, provides Artimi with the financial resources necessary to solidify and sustain a leadership position as the market transitions to mass production.”
Another company with world-class aspirations has closed a significant funding round ahead of its original target figures.