PORTLAND, Ore. MEMS oscillator developer Sand 9 Inc. will unveil a new product later this year after landing $12 million in Series B financing.
Boston-based Sand 9 said the round was led by new investor Commonwealth Capital Ventures (Waltham, Mass.) The funds will be used to ramp production capacity as well as beefing up sales and marketing. Seed funding totaling $10.7 million from Flybridge Capital Partners, General Catalyst Partners and Khosla Ventures was spent on technology development.
|Sand 9's MEMS oscillator uses a CMOS chip to cap its MEMS chip in a 3-D stack.|
"This investment will allow us to ramp up production to meet the initial customer demand we expect later in 2010 when we officially launch our first MEMS oscillators," said Sand 9 CEO Vince Graziani.
Sand 9 will be the first MEMS oscillator maker to crack the high-precision, temperature-compensated oscillator market, which should enable it to particate in market for 3G/4G handsets, GPS navigators and Wi-Fi-based devices. Together, those markets could generate over 1 billion units.
Stephen McCormack, a general partner with Commonwealth Capital Ventures, will join Sand 9's board. Also joining are David Aronoff, general partner at Flybridge Capital Partners, and Hemant Taneja, a general partner at General Catalyst Partners.