NemeriX, a leading A-GPS solution provider based near Lugano, Switzerland, closed a $22m (CHF 27m) financing round. All existing investors (Atila Venture Partners, Auriga Partners, Oak Investment Partners, PolyTechnos Venture-Partners and VI Partners) participated.
NemeriX is a fabless semiconductor company offering the world’s lowest power Global Positioning System ("GPS") and Location Based Services ("LBS") platforms in rapidly growing markets such as mobile handsets and personal navigation devices. Semiconductor revenues in these markets are expected to reach $1bn by 2010.
Offering the lowest power GPS solutions on the market today, NemeriX’s hosted A-GPS solutions integrate extended ephemeris assistance, SUPL and sensor-based inputs. This allows NemeriX’s customers the ability to offer differentiated products and deliver an enhanced consumer experience.
"This funding round will enable NemeriX to outperform the growth of the market, while continuing to provide our customers the support they need to get their products to market faster" explained Steve Rees, Chairman of the Board. "We have made tremendous progress in terms of building a strong team comprising highly experienced semiconductor and GPS technology experts and now have a clearly differentiated product portfolio which has resulted in many new customer relationships globally".
Source: NemeriX
