July 21, 2006 – AmberWave Systems Corp., a Salem, NH-based developer of IP relating to strained silicon and other advanced materials, has closed an oversubscribed $25 million Series E round of funding, led by current investors Adams Capital Management, TeleSoft Partners, Arch Venture Partners, 3i, and The Hillman Co., bringing its total cash raised in five rounds to more than $91 million.

The company recently announced additional hiring to expand its research efforts and an expansion of agreements with leading universities — in March AmberWave and Purdue U. agreed to jointly develop technologies for integrating semiconductor devices on III-V materials.