Overview & Background
World leader in RF MEMS, a technology which has been on the ITRS roadmap for several years, and will be used for 4G in mobile handsets. The MEMS is sold on a bare die component basis to module manufacturers, which in turn sell their module on to handset OEMs. The company has been operating since 2005 with modest revenues (from samples and engineering services) until volume ramps up during 2014.
We helped the team define its initial fund-raising strategy, around an early technology sale. Based on investor feedback and good commercial newsflow, strategy was refined for an exit post-volume production. Size of round was subsequently enlarged and management strengthened with new CEO brought in.
One of the larger rounds in semis for a Series B company in the last 3 years. Deep-pocketed syndicate to support the company through production ramp-up.