GIMV invests EUR 2.7 million in Dutch Xanadu Wireless
GIMV invests 2.7 million euro in Dutch early stage semi-conductor company Xanadu Wireless. The investment is part of a total funding round of 6.1 million euro. GIMV is co-lead investor of the transaction together with Prelude Ventures. Other investors in this round are Motorola Ventures and the management team of Xanadu Wireless.
Xanadu Wireless was started in 2004 and is located in Utrecht (The Netherlands). Xanadu is an early stage fabless semi-conductor company developing products for the ZigBee market. ZigBee is a relatively new wireless standard with multiple advantages compared to the existing standards. ZigBee is designed for low data rate communications with remote sensors in the process, utilities, automotive and other industries. Xanadu is developing a family of innovative ZigBee chips for broad application in those sensor networks. This funding round will enable Xanadu Wireless to further develop its product family and bring its first set of chips to the market.
For more information, please contact:
Mr. Frank De Leenheer - Investor Relations Manager GIMV
Tel: +32 3 290 22 18 - E-mail: firstname.lastname@example.org
Mr. Elderd Land - Executive Investment Manager GIMV
Tel.: +32 3 290 21 45 - E-mail: email@example.com