Cheshire-based silicon developer completes £1.5m funding round
CEO believes market opportunity is worth "more than $4bn"
EoSemi, a Cheshire-based company which specialises in the development of replacement parts for quartz crystals, has completed a Series B funding round worth £1.5m.
The funding has been garnered from EoSemi’s existing backers, including NESTA Investments, and builds on a £2.8m Series A round completed in June 2010.
EoSemi has carved a niche in the microelectronics industry with its leading-edge silicon-based products, which provide a cheaper alternative to the crystals used in consumer goods such as TVs and mobile phones.
The company believes its new funding will catalyse an exciting period of expansion.
Ian Macbeth, CEO of EoSemi, said: “We are addressing a long-term market opportunity in excess of $4bn, and moving confidently from early-stage technology development towards commercial success.”