Motia Secures $12 Million in Third Round Financing
STAMFORD, Conn.--June 21, 2004--| Investments by Prism Venture Partners, Intel Communications Fund and Prior Investors to Help Increase Motia's Leadership in Applying Effective Smart Antenna Technology To Wireless Systems |
Motia, Inc. (www.motia.com), a fabless semiconductor company focused on enabling smart antennas with RFICs, today announced that it has closed its third round of funding, totaling $12 million. The round was led by Prism Venture Partners and also includes an investment from the Intel Communications Fund. All previous investors, including Axiom Venture Partners, Carrot Capital and Kodiak Venture Partners also participated in this round.
"The industry has come to realize that cost effective smart antenna silicon products are key enablers of superior quality wireless networks," said Paul Sun, CEO and President of Motia, Inc. "Our customers believe in Motia's standards-compliant smart antenna approach. With our Javelin(TM) Wi-Fi solution and our Cross Country(TM) reference design for mobile, in-motion satellite TV, we are well-positioned to be the leading smart antenna RFIC solution provider."
Motia's standards-compliant Javelin semiconductor works with any existing baseband and RF chipset, and easily integrates into customers' existing products, providing vendors enhanced performance and up to four times more range in their Wi-Fi products. Javelin has been selected by market innovators such as Motorola and Hawking Technologies for integration into their existing and pending Wi-Fi products.
"Motia has delivered on the potential of smart antenna technology with its Wi-Fi and mobile video products," added Robert Fleming, Founder and General Partner at Prism Venture Partners. "In addition, Motia's technology and unique market positioning will enable the company to be an important smart antenna IC player across the wireless spectrum."
Motia has also applied its smart antenna technologies to the mobile in-vehicle satellite television market through its Cross Country reference design. Delphi has used Motia's smart antenna technology to demonstrate a compact antenna system that tracks a satellite signal from a moving automobile or truck.
"Smart antenna technology, like Motia's, could play an important role in lowering service providers' costs for installing WiMax wireless broadband services," stated Scott Richardson, general manager of Intel's Broadband Wireless Division. "With this technology, service providers would no longer need to send a truck to each subscriber's home or office to set up the connection."
About Prism Venture Partners
Prism Venture Partners, Westwood, MA, is a leading venture capital firm with early-stage investments in communications, business infrastructure software and systems and life sciences. With over $1 billion in capital under management, Prism has earned industry recognition through the firm's depth of entrepreneurial experience and active role with portfolio companies. Prism's access to an established pool of seasoned entrepreneurs and skilled executives, collaborative approach to working with portfolio companies and integrated network of investors contribute to the firm's investment success. Additional information on Prism Venture Partners can be found at http://www.prismventure.com.
About the Intel Communications Fund
The $500 million Intel Communications Fund, managed by Intel Capital, was established in September 1999 and focuses on accelerating Intel voice and data communications and wireless networking initiatives. The fund targets companies developing basic communications and semiconductor components and boards, real-time operating systems, software tools and utilities, system level hardware and software, and wireless network services and channels. The Intel Communications Fund has made investments in 17 countries on five continents. For more information about the fund, visit www.intel.com/capital/portfolio/funds/icf.htm.
About Motia
Motia is a fabless semiconductor company focused on enabling smart antennas with RFICs. The Company's standards-compliant adaptive beamforming technologies easily integrate into wireless systems providers' products to enhance overall functionality and performance. Motia was founded in 2000 and is backed by Axiom Venture Partners, Carrot Capital, Intel Capital, Kodiak Venture Partners and Prism Venture Partners. For more information, please visit http://www.motia.com or call (866) IC-MOTIA.
Motia, Cross Country and Javelin are trademarks of Motia, Inc. All other product or company names mentioned are the property of their respective owners.