LONDON SiConnect (Swindon, England) has secured a further investment of £1.3million from existing investor partners, The Dow Chemical Company, Prelude Trust and TTP Ventures. The investment is the second tranche of a £2.8 million first funding round launched in May 2005.
SiConnect is a fabless semiconductor company developing powerline communications (PLC) technology for multimedia home networking applications. Its silicon and software solutions will enable consumer electronic devices to use existing domestic electrical wiring to transport audio, video, voice and IP data throughout the home. The company has already invested more than 150 man-years in developing its PLC technology.
Trevor Sokell, CEO of SiConnect, said, “The continued support of our investors is highly valued. Not only do they provide us with crucial financial backing, but the advisory role they play is also very important to us as a start-up company.”
Russell Haggar of Prelude Ventures, added, “The team has created an industry-leading technology and we are confident of the global growth potential of the sector. This further investment enables the company to commercialise its innovative semiconductor technology.”
• On Power Management DesignLine Ray Horak, describes how some day you too can have IP connectivity with all your major appliances. And who doesn't want to talk remotely to their refrigerator?