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."
@simon7382, Although what you are saying is correct but, look at it in different angle. As the article says this is $4 billion industry and this is huge. And if we can replace quartz crystal with silicon chip that would reduce the circuit area because you can embed the clock internally.
At least two Silicon Valley start-up companies trying to do essentially the same thing have failed financially in recent years. Why would any informed investor fund a start-up trying to try this yet it again is difficult to understand.
Using CMOS to build clock is not a new technology. However, the advantage of this new technology developed by ECOSEMI is claimed to be the high accuracy (which is the main drawback of using silicon oscillator). How accurate this new stuff can be? Hope to see more news in this area as there is a real need to replace crystal.
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