Sept. 30, 2002 — BridgeWave Communications Inc., a Santa Clara, Calif.-based developer of high-speed semiconductor interconnects and packaging, has received $4.75 million in fourth round financing, according to Gregg Levin, senior vice president of marketing and business development.
The round was led by new investor West STEAG Partners. Previous investors Jerusalem Venture Partners and MKS Ventures also participated.
Levin said the majority of the funding will go toward commercializing interconnect and packaging products made with micromachining processes, to be conducted in its BridgeWave Technologies business unit. The company also develops products for fixed wireless Internet access.
“We’re really using this additional money to build up the team [and] get prototype technology that’s been developed to be released as a product,” Levin said. He said the company intends to make product announcements in the first quarter of next year and anticipates seeking further financing when it is ready to launch a manufacturing effort.
BridgeWave, founded in December, 1998, currently employs 25 people. Funding prior to the current round totaled $40 million.