Intel leads $10M funding round for RF chip startup

By Colleen Taylor, Contributing Editor -- Electronic News, 7/3/2007

Intel Capital, the global investment arm of leading chipmaker Intel Corp., today announced that it is the lead investor in a $10 million round of funding for Mirics Semiconductor Inc.

Founded in 2004, Mirics is a Hampshire, U.K.-based startup that has developed a radio-frequency chip technology, the MS1001 RF-tuner IC, that allows mobile devices and PCs to receive content based on a number of technical standards currently being used globally. It also purports to provide this capability within a much smaller chip-size and lower energy consumption than previously available.

Intel it will provide Mirics with management and technical input, as well as new commercial opportunities.

"Working with Intel Capital means that we will be able to benefit from the introductions that Intel can provide to the broader global industry, including some of the large companies that might want to invest in our technology," Simon Atkinson, CEO and founder of Mirics Semiconductor, said in a statement. "In addition, we benefit from the insight we will gain into Intel's own initiatives in the same area. This will also help to make us a much more attractive proposition for future investors."