21 April 2016

Peraso raises $20m Series C financing co-led by IDT and Roadmap Capital

Fabless wireless chipset firm Peraso Technologies of Toronto, Canada, which develops wireless Gigabit (WiGig) chip-sets, has raised $20m in a Series C funding round co-led by semiconductor manufacturer Integrated Device Technology Inc (IDT) of San Jose, CA, USA and existing investor Roadmap Capital, with additional financing from iNovia Capital.

Peraso is in production with WiGig IC solutions, addressing both next-generation WiFi opportunities in the consumer electronics (CE) space as well as outdoor devices in the 60GHz wireless infrastructure space compliant with the IEEE 802.11ad specification. The funding will be used to increase the capacity to address customer interest in all of the targeted market opportunities, including smart-phones and virtual reality (VR).

"Multi-Gigabit wireless connectivity is something that more and more CE and wireless infrastructure manufacturers are seeking to incorporate in their products," says president & CEO Ron Glibbery. "Raising this capital allows Peraso to take our sales to the next level. Participation by IDT provides further validation of the market opportunity, and continued participation from Roadmap as well as iNovia speaks to the tremendous success the company has demonstrated in getting our first ICs to market," he adds.

"As wireless video and data volumes continue to explode, we believe WiGig will offer significant capabilities in addressing customer demands," says Sailesh Chittipeddi, chief technology officer and VP of global operations at IDT. "Peraso has demonstrated its ability to develop the WiGig ecosystem that can address the demands of tomorrow." 

"Peraso has demonstrated interoperability with a variety of available WiGig products which are based on either Intel or Qualcomm chips; this is an achievement which is essential to create a robust WiGig ecosystem," comments Imed Zine PhD, principal at Roadmap. "Additionally, Peraso is the only company offering a WiGig USB stick solution for legacy devices — something which is necessary for backward compatibility of existing WiFi equipment," he adds. "Peraso has demonstrated excellent product execution, which has resulted in leadership in multiple markets," comments Hugh Cleland, Roadmap co-founder & Peraso board member. 

Tags: Peraso

Visit: www.perasotech.com

Visit: www.IDT.com

Visit: www.roadmapcapitalinc.com