GTronix Raises $10 Million in Third Round of Venture Funding
GTronix, the innovator of Smart Analog for Sensory Processing, announced recently 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™ 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.”
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 leading edge programmable and adaptive analog VLSI signal processing capability.
The company's APT 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 patented APT Technology to create ICs and integrated module products for customers requiring ultra-low power, size and cost effective implementations for portable consumer electronics.
Headquartered in Fremont, Calif. with offices in Atlanta, the venture-backed start-up firm has secured more than $13 Million in funding including an initial seed funding by a grant from the Georgia Tech incubator and subsequent rounds from Menlo Ventures, a leading VC firm in Menlo Park, California its products will be manufactured by Vanguard International Semiconductor Company using standard CMOS technology.
For more information, please visit www.gtronix.com