Friday, January 05, 2001
Sirific closes US$6.5 million first round financing
January 5, 2001
WATERLOO, ON -- Sirific Wireless Corporation, developer of a single-chip multi-standard wide-band radio for wireless devices, has completed a US$6.5 million first round of financing, led by Celtic House International Inc. Also participating in this round was Working Ventures Canadian Fund Inc.
"We're pleased to back Sirific as it develops a technology that could be at the core of a wide range of next-generation wireless devices," said Brian Antonen, general partner of Celtic House's Toronto office.
The funds will be used to continue development of Sirific's revolutionary new chip architecture that will reduce the cost to design and manufacture wireless devices, including cellular phones, personal digital assistants (PDAs), and wireless networking products.
Sirific's core technology, invented by company founder and chief technology officer Tajinder Manku, solves a 30-year problem within the wireless industry to perform the conversion of a wide range of radio frequency (RF) signals into digital data. With Sirific technology, multiple wireless communications standards and protocols, such as GSM, CDMA, Bluetooth, and 802.11, over a broad frequency range can be supported on a single chip and a single circuit board, replacing dozens of components on multiple boards as used in current designs. Devices using Sirific chip sets will not only accommodate emerging third-generation (3G) wireless services, but will retain interoperability with 2G and other legacy services. The company's first product will be on the market later this year.
Since receiving CDN$1 million in seed financing from Waterloo Ventures Inc. and SoloWave Investments Ltd. last spring, Sirific has assembled a strong technical team of 15 engineers and designers and it expects to recruit a chief executive with extensive wireless industry experience in the next few months. Richard Boyer of SoloWave has been Sirific's CEO through its start-up period.
About Celtic House International Inc.
The National Post has described Celtic House as "the most successful venture capital firm in Canadian history." Since its founding in 1996, the firm has expanded its initial US$25 million investment to more than US$1 billion currently under management. Celtic House is based in Kanata, Ontario with offices in Toronto, Vancouver, and San Francisco.
About Sirific Wireless Corporation
Sirific has developed chip design technology that will enable the reception and transmission of wireless signals over a wide range of frequencies and using multiple standards and protocols, all on a single programmable chip. The technology will enable manufacturers of wireless devices to simplify their designs and lower their product costs, while improving the flexibility and performance of their devices. The company was founded in 2000 and is based in Waterloo, Ontario.