LONDON – EoSemi Ltd. (Congleton, England), a developer of CMOS replacements for quartz oscillators, has announced it has secured a $2.3 million (£1.5milion) second tranche of funding.
All of the company's existing investors, including NESTA Investments, Capital-E Partners, and EV, participated in the latest round of financing.
The company was founded in 2005 and its first products are due to be announced in the first quarter of 2012. The company reportedly raised $4.5 million in Series A round of funding in June 2010.
"We are addressing a long-term market opportunity in excess of $4 billion, and moving confidently from early-stage technology development towards commercial success." said EoSemi CEO Ian Macbeth, in a statement. Libby Kinsey, Investment Manager, at NESTA investments said: "The U.K. has a highly successful microelectronics industry, and NESTA is determined to play its part in supporting its development."
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