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Investor Growth Capital-backed SkyCross Is 5th Most Funded Wireless Startup in 2011 - cbl
Posted December 19, 2011
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By Bill Murphy
NEW YORK -- SkyCross, with $10.76 million in venture investment, is the fifth-best funded wireless startups in the first three quarters of the year, according to a report in the industry news web site Fierce Wireless.
The Viera, Fla.-based firm has attracted investments from Japan's DoCoMo Capital, TL Ventures of Wayne, Pa.; Investor Growth Capital, with offices in New York; Gabriel Venture Partners of Redwood Shores, Calif.; and Santa Barbara, Calif.-based Intel Capital.
SkyCross, which is led by CEO Ben Naskar, provides antenna-centric radio-frequency solutions for handsets, home entertainment and computing industries. Its technologies enable delivery of voice, data, video, and location services to a wide range of very small devices.
Fierce Wireless said the funding for wireless companies 2011 to-date was the lowest in a decade with only $1.62 billion invested, compared to a peak of $3.79 billion in 2000. Factors for the decline include the "shifting economy and the merging and acquiring of companies, as well as the market becoming saturated with players," it said.
The themes for 2011, so far, indicate a renewed interest in mobile messaging and advancements in mobile broadband technology, the news site said.
The data is based on the MoneyTree Report by PricewaterhouseCoopers and the National Venture Capital Association data from Thomson Reuters.
Read the Fierce Wireless report here: http://tinyurl.com/dykqrpo
Also, at citybizlist see:
TL's Anthony Chang on Board as Skycross Raises $10.7M - cbl
SkyCross Raises $11M in Series E Funding
SkyCross Appoints Dr. Bami Bastani to Board
SkyCross Appoints Ben Naskar CEO and Chairman
Bio from SkyCross site:
Ben Naskar
CEO and Chairman of the Board
Mr. Naskar has more than 20 years of experience in the wireless semiconductor industry. Prior to joining SkyCross in November 2010, he was a corporate officer, vice president, and general manager of the Wireless Networking Business Unit at Atheros Communications. In this position, Mr. Naskar grew business unit revenue by 200 percent over three years, gaining market share in all product segments. Previously, he served as vice president and general manager of the Communications Group at PMC-Sierra. Mr. Naskar also has hands-on experience in Asia, where SkyCross has five facilities. For more than eight years, he was the China-based vice president and managing director of Asia at Analog Devices, growing a $55 million division to $650 million in revenue within six years. Naskar also headed a successful startup as CEO and president of Magfusion, a provider of RF MEMS devices, and has led M&A transactions valued at several hundred million dollars. Earlier, Mr. Naskar held senior management positions at National Semiconductor and Advanced Micro Devices.
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