Toronto's Spectra7 Microsystems Raises $11 Million

Posted by Techvibes NewsDesk

Toronto's Spectra7 Microsystems today announced that they have secured $11 million in funding from venture capital firms Celtic House Venture Partners, Ventures West Capital, and EdgeStone Capital Partners.

The Canadian startup says the funding will be used to accelerate product development and the production ramp of their new consumer electronics product line. 

Spectra7 wants to be a leading high performance analog semiconductor innovator. The company plans to deliver a new class of disruptive high speed analog semiconductors to the consumer and wireless infrastructure markets. The company intends to be public.

"The oversubscription of this financing round underlines that our unique strategy on delivering high bandwidth, frequency agile semiconductors for the next generation mobile internet is a winner," said Tony Stelliga, the chief executive officer of Spectra7. "A public listing coupled with strong investor support provides us with many competitive advantages as we continue to execute on our business plan."

"Spectra7 represents the culmination of best-in-class technology from two industry leaders and a very experienced management team," said Brian Antonen of Celtic House. "We are delighted to take part in this financing round. The company plans to attack the high growth mobile internet market. In our view, high performance analog represents one of the true high growth areas in the semiconductor market."

From offices in Toronto, Montréal and Ottawa, Celtic House manages over $425 million across three funds.

Company:
Ventures West
Website:
http://www.ventureswest.com
Location:
Vancouver, British Columbia, Canada

Ventures West is one of Canada's largest privately owned venture capital companies. In addition to providing capital, we contribute a wealth of resources to each investment. With 13 professional technology investment managers, and one of the largest Entrepreneur-In-Residence programs in Canada, the Ventures West team has over 140 years of technology venture investing and hands-on operating experience. Ventures... more

Company:
EdgeStone Capital Partners
Website:
http://www.edgestone.com
Location:
Toronto, Ontario, Canada

EdgeStone Capital Partners is one of Canada's leading private equity firms with in excess of $2.5 billion of funds committed to date from institutional and high-net-worth clients. EdgeStone provides capital, strategic direction and business and financial advice to help promising mid-market and early-stage companies achieve their full potential. EdgeStone leverages the resources of its broad business network and... more


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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more



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