eoSemi, U.K.-based all-silicon oscillator company, has secured secured a $2.3million second tranche of funding. All of the company’s existing investors, including NESTA Investments, Capital-E, and EV, participated in the latest round of financing.
“The continuing commitment of our investors is a ringing endorsement, not only of our core technology, but also of the progress made by our team towards bringing that technology to market. We are addressing a long-term market opportunity in excess of $4bn, and moving confidently from early-stage technology development towards commercial success,” said Ian Macbeth, CEO, eoSemi.
eoSemi is into designing and developing of all-silicon replacements for quartz crystals. eoTechnology is a unique, defendable innovation that uses standard CMOS processes to reduce the physical size and overall system cost of electronic devices.
eoSemi’s technology enables new timing devices based entirely on silicon circuitry to replace the costly, bulky and unreliable external quartz crystals that are still used in even the latest consumer and industrial devices, from mobile phones to televisions. eoSemi's new silicon approach allows a timing reference to be placed directly onto a silicon chip, reducing the number of parts required for each device and therefore the cost and size.
“A viable, cost-effective silicon timing solution is the holy grail for chip designers and makers of consumer products around the world. Such a solution would immediately cut costs and improve reliability: but just as important, it will open the path to silicon integration, which has been the historic driver for the whole of today’s electronics industry,” said Mark Sherwood, CEO at specialist industry analyst firm CS &A (www.timing-is-everything.net).
“We continue to see enormous potential in eoSemi, and are delighted at the company’s progress so far. At Capital E we remain convinced that eoSemi ticks all the boxes for a successful technology start-up, combining an outstanding team with defensible IP and a compelling need in the market,” said Marc Wachsmuth, Partner, Capital E Partners.