NEUCHATEL, Switzerland -- Fabless semiconductor supplier Xemics SA here today said it has increased its capital to 8.3 million Swiss francs ($12.7 million) with pool of three venture capital funds that will help it expand marketing of low-power ICs.
The company's second-round of venture capital comes from TAT Capital Partners of Switzerland, Banexi Ventures Partners of France, the Cantonal Bank of Vaud, Switzerland, and senior management at Xemics. The company initially raised 7.8 million Swiss francs ($11.9 million) in November 1998.
"With our secured financial position we can now focus on expanding our market presence, especially in the U.S.A. and in the Far East," said Roland Heer, CEO of the two-year-old company, which supplies ultra-low power microcontrollers, ICs for portable systems, wireless RF receivers/transceivers, and embedded digital signal processors.
Xemics its revenues for 1999 are expected to reach 21.5 million Swiss francs ($32.9 million). The company now has 88 employees and is serving a range of applications, such as digital hearing aids, sensor interfaces, and wireless communications.