2006 Starts with a $14M Bang for SkyCross
Just off the wires, it looks like Chris (er, Dr. Morton) and his crew have cash to make smaller, better antennas. I've seen their products and like the expertise they've assembled. For those of you building or funding wireless companies, make sure you consider the Melbourne area. We've backed two wireless companies there (WiDeFi and Proximities) and the talent base is second to none...
Here's the press release:
MELBOURNE, Fla., Jan. 3 /PRNewswire/ -- SkyCross, a leading developer ofadvanced wireless antenna solutions, today announced the closure of a$14 million round of financing led by TL Ventures. TL Ventures is an esteemedinvestment firm engaged in venture capital for more than 17 years with over$1.4 billion under management focusing on communications, IT andsemiconductors. The investment will provide capital to fuel continued growthat Skycross. This investment reinforces a string of SkyCross design successes in thewireless marketplace, including numerous embedded antennas for handsets and PCdata cards, as well as for mobile video devices. The company will use thefunding to accelerate the growth of its design and production capabilitieswhile continuing to expand in global markets. "We are delighted to be endorsed by an investor of this stature. TLVentures' participation validates our traction with leading customers in theexploding wireless mobile device industry and our prospects for futuregrowth," said Dr. Chris Morton, CEO of SkyCross. "It has been a pleasure toengage the talented team at TL Ventures."
"SkyCross is poised for continued success with a strong management team,considerable market footprint, and solid intellectual property," said MichaelBurns, managing director at TL Ventures. "We are pleased to invest in acompany that has demonstrated the significant progress that SkyCross has. Welook forward to helping the company realize its full potential."
About TL Ventures TL Ventures ( http://www.tlventures.com ), established in 1988, has over$1.4 billion under management and is currently making new investments from itssixth fund, TL Ventures V, which has $686 million in committed capital.Focused on venture investing in category-defining, early-stage companies ininformation technology, communications and biotechnology, the Firm providesportfolio companies with operational, entrepreneurial and financial expertiseand a global network of resources and contacts. TL Ventures has offices inPhiladelphia, Austin and Silicon Valley.
About SkyCross SkyCross is a leading developer of next-generation RF technology formobile and fixed wireless telecommunications and mobile computing markets.SkyCross' antenna solutions are based on several unique and patented antennatechnologies and designs that allow its engineers to deliver high performance,multi-mode, multi-frequency antennas that can be hidden inside a mobilecasing, have a very low radiation profile, and offer much better gaincharacteristics over existing solutions. Typical applications for the antennasinclude mobile handsets, laptop computers, PC cards, access points, andhousehold electronics. For details, please visit http://www.skycross.com .
Here's the press release:
MELBOURNE, Fla., Jan. 3 /PRNewswire/ -- SkyCross, a leading developer ofadvanced wireless antenna solutions, today announced the closure of a$14 million round of financing led by TL Ventures. TL Ventures is an esteemedinvestment firm engaged in venture capital for more than 17 years with over$1.4 billion under management focusing on communications, IT andsemiconductors. The investment will provide capital to fuel continued growthat Skycross. This investment reinforces a string of SkyCross design successes in thewireless marketplace, including numerous embedded antennas for handsets and PCdata cards, as well as for mobile video devices. The company will use thefunding to accelerate the growth of its design and production capabilitieswhile continuing to expand in global markets. "We are delighted to be endorsed by an investor of this stature. TLVentures' participation validates our traction with leading customers in theexploding wireless mobile device industry and our prospects for futuregrowth," said Dr. Chris Morton, CEO of SkyCross. "It has been a pleasure toengage the talented team at TL Ventures."
"SkyCross is poised for continued success with a strong management team,considerable market footprint, and solid intellectual property," said MichaelBurns, managing director at TL Ventures. "We are pleased to invest in acompany that has demonstrated the significant progress that SkyCross has. Welook forward to helping the company realize its full potential."
About TL Ventures TL Ventures ( http://www.tlventures.com ), established in 1988, has over$1.4 billion under management and is currently making new investments from itssixth fund, TL Ventures V, which has $686 million in committed capital.Focused on venture investing in category-defining, early-stage companies ininformation technology, communications and biotechnology, the Firm providesportfolio companies with operational, entrepreneurial and financial expertiseand a global network of resources and contacts. TL Ventures has offices inPhiladelphia, Austin and Silicon Valley.
About SkyCross SkyCross is a leading developer of next-generation RF technology formobile and fixed wireless telecommunications and mobile computing markets.SkyCross' antenna solutions are based on several unique and patented antennatechnologies and designs that allow its engineers to deliver high performance,multi-mode, multi-frequency antennas that can be hidden inside a mobilecasing, have a very low radiation profile, and offer much better gaincharacteristics over existing solutions. Typical applications for the antennasinclude mobile handsets, laptop computers, PC cards, access points, andhousehold electronics. For details, please visit http://www.skycross.com .
Labels: florida companies
Posted by VC Dan | 1/03/2006
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