SEQUANS Raises US $24 Million in Financing
SEQUANS was founded in 2003 to develop and deliver fixed and mobile WiMAX system-on-chips (SoCs) for the fast-growing WiMAX equipment market. SEQUANS is the only WiMAX chipmaker to have received certification for both base station and subscriber station reference designs for fixed WiMAX. SEQUANS expects reference designs based on its mobile WiMAX chips that are currently sampling, to be certified in the first wave of WiMAX Forum mobile certification planned for later this year. The global WiMAX market is expected to reach $2.2 billion by 2008 according to Gartner.
Michael Elias, managing director of Kennet Venture Partners who joined the board of directors of SEQUANS as a result of the investment, said, "SEQUANS has done an extraordinary job bringing to market solutions for fixed and mobile WiMAX in a short-time frame and with very efficient use of capital."
Georges Karam, SEQUANS CEO, said, " We will use our new funding to grow our organization and to further accelerate the introduction of high-performance, low-power, low-cost integrated chips to support mobile and fixed applications."
