Nanoradio fully financed to deliver the worlds smallest and lowest power WLAN chipset solution

A syndicate of four Venture Capital funds consisting of Nordic Venture Partners, Innovacom, Teknoinvest and Industrifonden has granted an investment of 9MEuro in Nanoradio AB with Headquarter in Kista, Sweden. The goal with the venture capital injection is to launch a WLAN chipset solution to mobile and consumer electronic manufactures and long term build a global Wireless semiconductor provider that will dazzle the market supplying unique products with extremely low power consumption in all modes and world class form factor.

Nanoradio schedules to sample customers of its first WLAN 802.11b/g SIP (System in Package) engineering samples after the summer in 2005. Nanoradio expects to ramp up in volumes during 2006. Consumers and OEMs can expect converged, connected devices to provide fast download on the go and support for real time multimedia applications such as voice over WLAN and Hi-Fi music over WLAN. “We are very exited about the commitment and backing shown from the syndicate since this enables Nanoradio to put in higher gear. Now we have the financial strength to successfully launch our world class solution to the top tier OEM companies.” says Pär Bergsten, CEO of Nanoradio AB