Canada-based wireless chipset producer Peraso Technologies has secured $20m in a round co-led by semiconductor manufacturer IDT and co-investment platform Roadmap Capital that also included venture capital firm iNovia Capital.
Peraso produces wireless gigabit (WiGig) semiconductor technology used in wifi-equipped consumer electronics and wireless infrastructure for outdoor devices.
The company will use the capital to expand its product range in order to meet the need for its technology in smartphones and virtual reality technology.
Sailesh Chittipeddi, chief technology officer of IDT, said: “As wireless video and data volumes continue to explode, we believe WiGig will offer significant capabilities in addressing customer demands.
“Peraso has demonstrated its ability to develop the WiGig ecosystem that can address the demands of tomorrow, and IDT is excited to support this industry leader.”
The round follows a C$10m ($7.9m at current exchange rates) series A round backed by iNovia, Celtic House Venture Partners and VentureLink Funds in 2009 before Ontario Emerging Technologies Fund (OETF) joined the three investors to add C$8m the following year.
Roadmap Capital, Celtic House, OETF and VentureLink Funds supplied an additional $20m for Peraso in October 2014.
– Image courtesy of Peraso Technologies