Silicon Clocks, a Fremont, Calif.-based provider of integrated timing solutions for electronic systems, has raised $8 million in second-round funding. Lux Capital led the deal, and was joined by return backers Charles River Ventures, Formative Ventures and Tallwood Venture Capital.
PRESS RELEASE
Silicon Clocks, a leader in integrated timing solutions for electronic systems, today announced the completion of an $8M financing. The round includes new investor Lux Capital, an early-stage venture firm focused in MEMS (Micro-Electro-Mechanical Systems) and nanotechnology. Previous investors Charles River Ventures, Formative Ventures and Tallwood Venture Capital also participated in the financing. Josh Wolfe, Managing Partner from Lux Capital, joins Silicon Clocks’ Board of Directors as part of the transaction.
“Silicon Clocks’ innovative MEMS-based IC technology addresses a $4B timing industry that hasn’t seen significant innovation in many years,” said Josh Wolfe of Lux Capital. “The unique approach delivers new capabilities not possible with traditional quartz or MEMS technologies, and that goes directly towards solving critical customer issues.”
“We’ve always been very proud of having a syndicate of investors with such deep semiconductor experience,” said Richard Miller, CEO of Silicon Clocks. “Now with Lux Capital, we’re adding another great firm that understands the tremendous impact our innovative silicon technology has on solving real-world problems.”
“Timing is fundamental to all electronics. Silicon Clocks provides an industry-changing breakthrough in timing not seen in 20 years,” summarized Ron Yara, Tallwood Venture Capital. “Their technology improves performance and reliability while decreasing power, size and overall system costs in all types of electronics products: communications, storage, consumer electronics, and also automotive and medical devices.”
About Silicon Clocks
Silicon Clocks, a fabless semiconductor company headquartered in Silicon Valley, develops best-in-class integrated timing products utilizing innovative MEMS and IC technologies. Serving a range of electronic systems, including: high speed serial data, wireless communications, and consumer products, Silicon Clocks delivers improvements in performance, reliability and flexibility combined with reductions in power, size, and part count to provide significant system cost savings. For more information, visit www.siliconclocks.com .
About Charles River Ventures
Founded in 1970, Charles River Ventures is one of the nation’s oldest and most successful early-stage venture capital firms with approximately $2.1 billion under management. CRV is dedicated to helping exceptional entrepreneurs turn their ideas into the next category leaders in high growth technology and media sectors. Over the past 10 years, CRV funds have been ranked among the industry’s top performers. CRV has offices in Boston, MA and Menlo Park, CA. For more information, visit www.crv.com .
About Formative Ventures
Founded in 2000 and based in Menlo Park, Calif., Formative Ventures is a leading early-stage venture capital firm that invests in the industry’s next-generation emerging technologies leaders in areas such as communications, wireless and next-generation Internet solutions. The founders of Formative believe that in today’s tough environment, technology start-ups are looking for investors with “real-world” start-up experience, and in very specific areas such as sales and marketing processes, scaling an organization for revenue or launching a product line. Formative’s partners are experienced, personable executives who have the management depth, industry domain knowledge and a rich network of contacts to help early-stage companies get the market traction they need to become industry leaders. For more information, visit www.formative.com .
About Lux Capital
Founded in 2000, Lux Capital Management is a research-driven investment firm focused on de novo, seed and early stage investments in the physical and life sciences. Lux takes an active role in helping entrepreneurs and management teams build successful businesses in high growth sectors. Our investment team has built over 20 companies from scratch. Lux’s investment strategy ensures our portfolio companies are better connected, have deeper insight, and command industry leadership faster than their competitors. For more information, visit www.luxcapital.com .
About Tallwood Venture Capital
Tallwood Venture Capital invests exclusively in semiconductor and semiconductor-related technologies and products � and in the passionate entrepreneurs and compelling ideas that promise to create a significant impact on the semiconductor market. By offering deep semiconductor knowledge, direct operating experience and a high degree of availability, Tallwood builds close, active working relationships with its portfolio companies. Tallwood recognizes that semiconductor investments offer unique challenges � challenges that require patience and the support of partners with extensive semiconductor expertise and a commitment to building successful, enduring companies. Tallwood is committed to assisting its entrepreneurs every step of the way, so they can lead their companies for the long term � an approach the firm believes creates stronger, more successful businesses. For more information, visit www.tallwoodvc.com .
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