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Dealipedia - ZeroG Wireless Inc receives an investment from Battery Ventures...

ZeroG Wireless Inc receives a $17 million investment

Deal Participants:
Company: ZeroG Wireless Inc View Profile Charts Homepage
Investors: Battery Ventures View Profile Charts Homepage
Greylock Partners View Profile Charts Homepage
Morgenthaler Ventures View Profile Charts Homepage
Deal Financials:
Investment Amount: $ 17 million
Series: B
Date:
Announced: Oct 27, 2008

PRESS RELEASE - ZeroG Wireless Inc receives a $17 million investment

ZeroG Wireless, an innovator in low- power embedded Wi-Fi design, today announced that the company has closed its Series B round of financing totaling $17 Million. Indicative of the strong support of the company’s vision, Battery Ventures led this round, and both Morgenthaler Ventures and Greylock Partners return as investors in this second round. ZeroG Wireless will use the financing to bring its products to market through expanded sales channels, further build out its executive team, and develop future products. Alex Benik, from Battery Ventures, joins the ZeroG Wireless board of directors to form a six-member board.

“While the traditional market for Wi-Fi silicon for laptops, access points and routers is well developed, ZeroG Wireless is targeting a multi-billion dollar segment of long-tail applications that will greatly expand the overall Wi-Fi market,” said Alex Benik, Principal, Battery Ventures. “They are the first to offer a low cost, low power and easy to embed chip that allows literally any device to benefit from the huge existing base of Wi-Fi infrastructure. This opens up a world of possibilities and we’re pleased to support the company as they progress toward their goal of creating an ‘Internet of things.’”

“We are on the edge of a dramatic shift in how people connect with ‘things,’” said John Cummins, CEO, ZeroG Wireless. “In five years it will be hard to find an electronic device that is not connected to the internet,” Cummins continued. “This funding will enable ZeroG to deliver products that will connect billions of new devices to the massive Wi-Fi infrastructure.”

About ZeroG Wireless, Inc.
ZeroG is a fabless semiconductor company focused on creating a world of connected devices. With ZeroG low-power Wi-Fi chips, there is no limit to the type of device that can now leverage the massive and rapidly growing Wi-Fi infrastructure. The Company’s products are designed from the ground up to enable simple, low-cost connectivity for nearly any system, regardless of architecture. The result: faster time to market and significantly lower overall system cost. Privately held, ZeroG Wireless is headquartered in Sunnyvale, Calif. Investors Battery Ventures, Greylock Partners, Morgenthaler Ventures, and Miven. Additional information may be found at www.zerogwireless.com.

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Oct 27 '08
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