BDC Capital’s Deep Tech Venture Fund and Celesta Capital co-led the all-equity funding round for the fabless chip designer that provides micro-electromechanical systems (MEMS) timing solutions. Industry players MediaTek, Seiko Epson, and TXC also participated as strategic investors. (The Logic)
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BDC Capital’s Deep Tech Venture Fund and Celesta Capital co-led the all-equity funding round for the fabless chip designer that provides micro-electromechanical systems (MEMS) timing solutions. Industry players MediaTek, Seiko Epson, and TXC also participated as strategic investors. (The Logic)
Talking point: The funds will be used to commercialize Stathera’s DualMode GEN1 MEMS timing device by the first quarter of 2024, which will be produced in Canada, CEO George Xereas told The Logic. Traditionally, every IoT connected device has at least two timing chips, one for keeping time and the other to support connectivity needs such as Wi-Fi and bluetooth, and four capacitors, but the company combines everything into one component. Xereas said he expects “substantial revenue” in 2024 and plans to raise a Series B around mid-2025.
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