SOURCE: SiBEAM

June 14, 2005 00:01 ET

High-Speed Wireless Company, SiBEAM, to Take $15 Million in Series A Funding

Announces Company Formation, Including Worldwide Experts in High-Speed Wireless Communications

FREMONT, CA -- (MARKET WIRE) -- June 14, 2005 -- SiBEAM, Inc., a developer of gigabit wireless technology, announced its launch today to meet the growing demand for high-bandwidth services over wireless networks. SiBEAM has secured $15 million in Series A funding from New Enterprise Associates, US Venture Partners, and Foundation Capital.

With years of academic research behind its core team, SiBEAM will utilize the Series A funding to further its development of wireless technology for the next level of wireless communications, enabling gigabit data rates. The founding executive team comprises world-leading experts in wireless technology and systems design. Dr. Bob Brodersen, chairman of SiBEAM, was involved in founding Atheros Communications, a leading developer of semiconductors for wireless communications products. Additionally, Dr. Brodersen is an established world authority on wireless communications and has been a UC Berkeley professor for 33 years and co-director of the Berkeley Wireless Research Center.

Bringing 29 years of wireless product development and start-up experience, Dr. Tim A. Williams serves as SiBEAM's founding CEO. Dr. Williams was co-founder and CTO of two successful start-up companies, Wireless Access and Picazo Communications, as well as a 14-year Motorola veteran and Motorola Fellow. John Marshall joins as vice president of sales and marketing and brings a strong track record of building successful start-up operations. Marshall previously served as vice president of marketing and business development at 2Wire, the market's leading broadband service platform provider, where he helped to grow the company to over $100M in revenue and profitability. Prior to 2Wire, he was a co-founder of 3Com's wireless and home networking division.

SiBEAM's Series A investors and board members include Dr. Forest Baskett of New Enterprise Associates, Dr. Arati Prabhakar of US Venture Partners and Adam Grosser of Foundation Capital.

"SiBEAM will apply unrivalled knowledge of wireless system design to one of the most compelling market opportunities today," said Dr. Forest Baskett, general partner at NEA. "We're excited by the company's new wireless vision and impressed by the calibre of its founding team. We look forward to working with SiBEAM to push the boundaries of wireless development."

"We're delighted to have such insightful investors in the wireless marketplace join the SiBEAM team," said Dr. Williams, SiBEAM's CEO. "Our focus now is on expanding our team of world class engineers and executing against our vision for a new era of wireless connectivity."

About SiBEAM, Inc.

Founded in 2005, SiBEAM is a developer of semiconductor systems solutions for high-speed communications platforms. The company is developing new, intelligent, low-cost wireless technologies to meet demand for high-bandwidth services. Additional information on the company will be forthcoming at www.sibeam.com.

Contact Information

  • Michelle Homes/Sumaya Kazi
    LEWIS PR, Inc. for SiBEAM
    Tel: 415/277-5400
    Email: Email Contact