Fabless Semiconductor Innovator Stathera Announces US $15M Series A Funding Round
MONTREAL--(Business Wire / Korea Newswire) June 01, 2023 -- Stathera Inc., a leading provider of MEMS (Micro-electromechanical Systems) timing solutions, announced today that the company has raised $15 Million in a Series A funding round. The round was co-led by BDC Capital’s Deep Tech Venture Fund and Celesta Capital, with additional participation from strategic investors including MediaTek, Seiko Epson, and TXC.
“Technology scaling using conventional timing architectures has hit a wall when it comes to synchronizing next-generation electronics. Stathera’s technology introduces a new approach to integrating and manufacturing timing devices,” said George Xereas, Stathera’s CEO and Co-founder. “We are excited to be the only company with state-of-the-art DualModeTM frequency technology, which has the potential to re-architect the entire $9.4 Billion electronics timing industry. We are grateful to our investors for recognizing and investing in this potential, which will allow us to expand our world class team and drive commercialization.”
As a core component of their commercialization strategy, Stathera is developing numerous strategic partnerships with industry-leading companies who will help enable global distribution of their products. Stathera has entered into a commercial collaboration agreement with South Korean conglomerate, Doosan. The company is also pursuing partnerships with semiconductor industry leader MediaTek, as well as quartz timing leader TXC.
“Businesses and consumers today expect more. It is clear that next generation electronics are in great need of new solutions that can meet the growing demands of performance and cost,” said Nicholas Brathwaite, Founding Managing Partner of Celesta Capital. “We are delighted to support the fantastic team at Stathera as they work to bring their differentiated technology to the market at scale.”
‘‘We are proud to support Montreal-based and founded Stathera and its highly talented team, ’’ adds Charles Lespérance, Partner, Deep Tech venture Fund at BDC Capital. ‘‘Alongside other notable investors in this round, we’re confident that the company’s high-performance MEMS timing solutions developed to replace quartz oscillators will allow them to be at the forefront of innovation with forthcoming products that will enable new capabilities in sectors like IoT, computing, automotive and telecommunications.’’
Stathera intends to use the proceeds from the Series A funding to fully commercialize its DualModeTM GEN1 MEMS timing product line, increasing production capacity in the months ahead to meet anticipated customer demand. In parallel, Stathera plans to invest heavily in the advancement of its GEN2 high-performance technology, which brings an improvement of one order of magnitude over legacy MEMS timing solutions.
With the Series A investment, BDC Capital Partner Charles Lespérance and Celesta Capital Partner Terry Gilton will join Stathera’s Board of Directors.
Stathera is fabless semiconductor company focused on providing cutting edge MEMS-based timing solutions. With offices in Montreal and Toronto, our team is re-architecting the traditional quartz-based timing industry with the introduction of state-of-the-art DualMode™ frequency technology. This breakthrough innovation is redefining what is possible in timing applications and synchronization, and has the potential to transform the entire $9.4 Billion electronics timing industry.
For more information, please visit www.stathera.com.
About BDC Capital
BDC Capital is the investment arm of BDC, Canada’s business development bank. With over $6 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers businesses a full spectrum of capital, from seed investments to growth equity as well as ownership transition solutions, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage. Visit bdc.ca/capital.
About Celesta Capital:
Celesta Capital is a leading deep technology venture capital firm that leverages synergies between leading centers of innovation in the US, India, and Israel to create globally impactful enterprises. The Celesta team, with deep operating experience, has built multi-billion-dollar businesses at companies such as Intel, Cisco, and Flex. The firm has funded over 90 technology companies globally, spanning numerous advanced hardware and software applications. Learn more at http://celesta.vc.
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This is a news release distributed by Korea Newswire on behalf of this company.