AmberWave secures $21 million backing
AmberWave Systems, the Salem, NH, company that specializes in strained silicon technology, has raised $21 million in its latest financing round.
Venture capital group 3i acted as lead investor, and was joined by previous investors Adams Capital Management, Arch Ventures, Telesoft Partners and The Hillman Companies.
According to AmberWave and 3i, the investment ranks in the top five financing rounds of semiconductor companies in the first six months of 2004.
AmberWave’s technology allows chip manufacturers to increase the speed of CMOS-based circuits by 17% at equivalent power consumption. Chips operating at the same speed as standard CMOS-based ICs enjoy a 34% reduction in power consumption.
The technology was developed at MIT and AT&T Bell Laboratories, and AmberWave has over 100 issued and pending patents.
“The semiconductor industry’s biggest players – IBM, Texas Instruments, Intel, Motorola, Toshiba, TSMC to name a few – are announcing their interest in strained silicon,” said Robert Faubert, AmberWave’s CEO.
3i partner Marko Maschek will now join AmberWave s board of directors.
