Samsung Invests $4M in UWB Company
Alereon Inc. has landed a $4 million investment from Samsung Ventures’ strategic technologies investment fund to be used for its ultrawideband (UWB) technology.
Nearly a year ago and after some three years of disputes, the IEEE threw in the towel on a UWB standard, unable to find a compromise between the WiMedia Alliance’s flavor of the short-range wireless technology and the UWB Forum’s flavor.
Austin-based Alereon, which supports WiMedia Alliance UWB, claims it was the first company to go into production with a registered and manufacturing-worthy PHY solution and the first company to demonstrate a production-worthy Wireless USB device solution.
“This investment is consistent with our vision that UWB and Wireless USB may ultimately have a place in mobile and consumer electronic products with significant volume production,” said Bill Byun, an investment principal with Samsung Ventures, in a statement. “Samsung Ventures conducted an in-depth analysis of many UWB companies and chose to invest in Alereon, as they represent the ideal balance of leading products and product plans to address many of Samsung’s potential future implementations of Wireless USB and UWB.”
Added Eric Broockman, CEO of Alereon: “I believe this commitment from Samsung Ventures is persuasive evidence that our technology, along with our ability to bring added value to our strategic partners, is capturing the attention of even the most demanding investors. Additionally, the Samsung investment is consistent with our strategy to work closely with established market leaders, much as we have done in the PC processor space and the USB hub market.”