GTronix Raises $10 Million in Third Round of Venture Funding
14th May, 2007
GTronix, the innovator of Smart Analog for Sensory Processing, announced today that it has secured $10 million in funding in a round led by JAFCO Ventures; existing investor Menlo Ventures also participated. GTronix will use this third round of funding to accelerate existing development efforts, to bring initial products to market and to create new product families for applications that can benefit from the company's APT(TM) Technology.
"GTronix is dedicated to becoming the market and technology leader in bringing local intelligence to application-specific sensory interfaces," said Hubert Engelbrechten, CEO of GTronix. "Our message is resonating strongly with both target customers and investors. We believe we can address the challenges OEMs face as they create next-generation portable consumer electronics by applying our programmable analog VLSI and signal processing capabilities."
According to Engelbrechten, JAFCO Ventures' strong position in Asia was a particularly compelling factor in the funding process. Indeed, Asia is critical in the design, production and consumption of consumer electronics. JAFCO's strong presence in that region offers GTronix the ability to leverage existing relationships with consumer electronic OEMs. GTronix also can benefit from JAFCO's regional business development offices to help "open doors" and explore additional partnerships.
According to JAFCO Ventures' partner, Aaron Cheatham, who will join the GTronix board, GTronix represents a disruptive opportunity. "Every once in a while," said Cheatham, "a semiconductor company comes along with novel technology that forms a platform for a portfolio of innovative products. We believe GTronix is one such company, and we think that we can actively help GTronix deploy its products and penetrate the Asian market."
Menlo Ventures led the earlier funding rounds for GTronix, including the initial seed funding. According to Hal Calhoun, managing director at Menlo Ventures, the firm was very pleased to be able to participate in this third round as well. "We have been closely monitoring GTronix's progress," said Calhoun, "and feel the company is on the right trajectory to penetrate the market as planned.
About GTronix's APT(TM) Technology
GTronix's proprietary APT(TM) Technology comprises a programmable analog structure and architecture that can intelligently process real-world data, such as acoustic, visual, and positioning. The patented APT Technology leverages a unique combination of three elements: proprietary analog algorithms; programmable floating-gate transistors to precisely tune analog structures during production; and unique circuit design techniques for implementing signal processing solutions.
APT Technology's breakthrough is in programmable analog structures that are compact and power efficient, which makes it possible and practical to implement advanced signal processing functions in analog that previously required DSPs. Using APT Technology, signal processing solutions can be implemented with orders of magnitude less power consumption, a minimum of circuit elements, and a lower cost -- an ideal combination for portable consumer electronics.
About JAFCO Ventures
Based in Palo Alto, California, JAFCO Ventures is an independent venture capital partnership focused on companies that are emerging leaders in the communications, Internet, semiconductor and software industries. JAFCO Ventures was formed in 2003 and currently manages $200 million in capital. The fund's charter is to invest in venture opportunities with true "breakout" potential where JAFCO Ventures can meaningfully add value with capital, the experience of seasoned venture capital investors, and the deployment of our Asia business development team, to help portfolio companies generate revenue from customers in Japan and other parts of Asia. For more information, visit http://www.jafco.com.
About Menlo Ventures
Menlo Ventures provides long-term capital and management support to early- stage and emerging-growth companies. Menlo Ventures is one of Silicon Valley's oldest venture capital partnerships, and have organized and managed nine venture funds since their inception in 1976. Menlo Ventures has over $3.9 billion under management, and a team with over one hundred years of collective experience in technology, marketing, sales and general management.
Founded in 2003, GTronix is a fabless semiconductor company developing novel analog technology to extract real-world sensory information for portable consumer electronic products. Its mission is to become a market and technology leader in bringing local intelligence to sensory interfaces through the application of its programmable and adaptive analog VLSI signal processing capability.
The company's APT(TM) Technology -- Smart Analog for Sensory Processing -- leverages proprietary analog algorithms, a programmable floating gate transistor structure and new circuit design techniques for implementing signal processing functions. GTronix will apply its APT Technology, covered by 15 patents, to create silicon and module products for customers requiring ultra- low power, size and cost for portable consumer electronics.
Headquartered in Fremont, Calif. with offices in Atlanta, the venture- backed start-up firm secured an initial seed funding round from the Georgia Tech incubator and subsequent rounds from Menlo Ventures and JAFCO Ventures. Its products will be manufactured by Vanguard International Semiconductor Company using standard CMOS technology.
The GTronix name and logo, APT Technology, and 'Smart Analog for Sensory Processing' are trademarks of GTronix Inc. All other trademarks and servicemarks are the property of their respective owners.
Analog Signal Processing - Analog Signal Processors - Analog Processing - Low Latency - Subthreshold Cmos - Sub Threshold - Ultra Low Power - Floating Gate - Floating Gates - Smart Sensors - Sensor Processing - Intelligent Sensors