Alereon announces $4 million strategic investment from Samsung Ventures
Alereon, Inc announced it has received a $4 million investment from Samsung Ventures' strategic technologies investment fund.
Eric Broockman, CEO of Alereon, commented, "I believe this commitment from Samsung Ventures is persuasive evidence that our technology, along with our ability to bring added value to our strategic partners, is capturing the attention of even the most demanding investors. Additionally, the Samsung investment is consistent with our strategy to work closely with established market leaders, much as we have done in the PC processor space and the USB hub market."
Alereon is one of the first companies to go into production with a registered and manufacturing-worthy PHY solution and most recently, one of the first companies to demonstrate a production-worthy Wireless USB device solution. This includes the Company's most recent public technology demonstration of a multi-vendor application developed in conjunction with Kodak with an Alereon technology-enabled Kodak digital still camera taking pictures and quickly transferring them over Wireless USB to a laptop that included a partner's host MAC and an installed Alereon PHY.
"This investment is consistent with our vision that UWB and Wireless USB may ultimately have a place in mobile and consumer electronic products with significant volume production," said Bill Byun, an Investment Principal with Samsung Ventures. "Samsung Ventures conducted an in-depth analysis of many UWB companies and chose to invest in Alereon, as they represent the ideal balance of products and product plans to address many of Samsung's potential future implementations of Wireless USB and UWB."
Mr. Broockman concluded, "We believe we are well prepared to collaborate with Samsung Electronics for their specific application needs. We look forward to engaging with Samsung Electronics to develop UWB-related products for mobile applications in the future."
