Peregrine Semiconductor closes $23M financing

Feb. 10, 2003 – San Diego, CA – Peregrine Semiconductor, a supplier of ICs for wireless communications, has raised $7.5 million in the third and final phase of its $23 million Series A1 round.

Venture firms Technology Venture Partners and Australasian Media and Communications Fund, both from Sydney, Australia, joined existing investors Morgenthaler Ventures, Wasserstein Ventures, APAX Partners, Newlight Associates, CSK Ventures, CDIB Ventures, H&Q Global Alliance, Intel Capital, Needham Capital Partners, and Roser Ventures.

Peregrine and Oki Electric Industry of Japan announced in December their plans to jointly make and sell SoC devices built with Peregrine’s ultra thin-silicon CMOS-on-sapphire technology. Oki aims to achieve sales of $244 million for these products in 2005.

As part of the agreement, Oki will also serve as the foundry and second source for the jointly developed products. Peregrine’s first source, a wafer fabrication facility, is located in Sydney, Australia.

Peregrine will use the new investment to expand its product offering, worldwide sales and support, and business operations to meet market demand.


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