DecaWave

DecaWave

June 15, 2015 09:00 ET

DecaWave Secures Funding for Micro-Location Technology to Address Fast Growing Consumer and IoT Markets

Investment to be used to accelerate development of second-generation chip targeting consumer micro-location applications

DUBLIN, IRELAND--(Marketwired - June 12, 2015) - DecaWave, specializing in precise location and connectivity applications, announced it has closed a funding round from Angel investors, bringing the total funding to $30 million. Corporate financier Richard O' Loughlin of Select Capital advised DecaWave on this transaction. This additional funding will be used to quicken the development of DecaWave's next-generation technology to address the fast-growing demand in the consumer market.

DecaWave offers Ultra Wideband (UWB) wireless technology for precise location and connectivity applications that can identify the specific location of any object, person, or place guaranteeing indoor location accuracy within 10cm with greater than 99% reliability. DecaWave's DW1000 chip allows both accurate measurement of time and data communication to occur simultaneously, in a wide variety of applications by developers of Real Time Location and Indoor Positioning Systems, Internet of Things and wireless sensor networks.

Since launching its flagship product in 2013, DecaWave has seen significant progress with over 900 customers working on its UWB technology. This traction demonstrates the need for accurate location-finding capabilities. This need is evident across businesses with industrial-healthcare, factory automation, safety, mining, and sports analytics leading the pack as the first deployments are already ongoing. The automotive industry is not far behind as solutions based on DecaWave technology will be installed in cars as early as 2017.

As part of DecaWave's commitment to expanding the adoption of UWB technology, it also launched a Partnership Program in early 2015. The program is designed to build an ecosystem that leverages the members' (hardware vendors, software developers, and systems integrators) knowledge and expertise with DecaWave's accurate location technology to provide advanced RTLS solutions to end users and customers.

"DecaWave has seen continual growth since our launch, and now with the Internet of Things, there is increasing demand for highly-accurate location solutions for everyday items in the consumer markets - the connected home driving the pack. This latest funding round allows us to accelerate the development of our technology and expand our company to meet our customers' expectations," said Ciaran Connell, DecaWave CEO. "We are already looking to the next step. The IoT-with its scale- is driving a demand for highly-customized chips, each of those delivering the best feature/power/cost combination for a specific application. To fully embrace this IoT wave, we want to have several chips simultaneously in design which will require us to treble our workforce. Therefore, DecaWave will seek a minimum of EUR10 million in a funding round opening early 2016. This round will be opened to Angels but also, for the first time, to institutional investors."

About DecaWave

DecaWave is a pioneering fabless semiconductor company developing a family of integrated circuit products called ScenSor, compliant to the IEEE802.15.4a standard, which can identify the specific location of any object, person or thing at very competitive cost, very low power and with a required level of precision and reliability never achieved before (10cm). In addition, the data communication capability of the chip (up to 6.8Mb/s) makes it a perfect fit for IOT applications and other low-power wireless network applications.

With applications in diverse markets including factory and building automation, healthcare, ePOS and retail, robotics, warehousing, automotive and consumer, the company's flagship DW1000 chip has garnered interest from more than 2,500 firms globally.

DecaWave is headquartered in Dublin Ireland, with presence in France, South Korea, Taiwan and the US. For more information please visit http://www.decawave.com.

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