Sunday, May 22, 2011

SkyCross Raises $11 Million for LTE Antennas

SkyCross has closed on $11 million in financing, the first tranche of Series E funding, to support its 4G MIMO antenna solutions. The company intends to close the second tranche of the round, up to $15 million, by the end of June. The capital raised will be used to support the company's rapidly increasing business in Asia and the United States.

SkyCross supplies RF technology for products such as tablets, smartphones, and multiband USB modems. The company specializes in multiple antenna designs, creative 3D and manufacturing techniques, and 4G MIMO functionality for LTE. It has regional design centers in China, Taiwan, Korea, and the United States. Proceeds from the current funding round will help accelerate rollout of 4G/LTE technology in consumer electronics devices.

Significantly, the round includes new equity from DOCOMO Capital as a strategic investor. DOCOMO Capital is a corporate venture arm of NTT DOCOMO, the world's leading mobile operator. Existing investors including TL Ventures, Investor Growth Capital, Gabriel Venture Partners, Intel Capital, and a group of long standing individual investors also participated in the round.