LONDON Elonics has secured an additional $1 million of series A, second close finance from a consortium of investors which includes David Milne, co-founder and former CEO of Wolfson Microelectronics, John Carey, co-founder of AMD and former chairman of Wolfson Microelectronics, and technology investors Liz Sharpe, John Gray and Irene Buchanan.
Founded in 2003, Elonics (Livingston, Scotland) has developed a radio frequency architecture called DigitalTune that is the foundation for a family of re-configurable CMOS RF front end products. It allows designers to implement CMOS RF front ends capable of cost effectively supporting multiple TV and radio broadcast standards and enabling smaller, lighter, cheaper and lower power consumer electronics.
“I am personally delighted to be able to support Elonics in this critical phase of the company’s evolution, said Milne. “As a long time proponent of an indigenous Scottish semiconductor industry, I am very pleased to see companies such as Elonics attempting to follow in the footsteps of companies such as Wolfson Microelectronics who have developed global businesses from bases here in Scotland.”
Elonics CEO David Srodzinski added, “This is an exciting time for the team at Elonics as we begin to put in place the foundations to grow a global semiconductor business.”
Earlier this year the company raised £2 million (about $4 million) in venture funding in an initial round led by technology commercialization and investment management company Braveheart. Other investors included the Scottish Venture Fund and private investors Sir Tom Farmer and Brian Souter.