12/18/2003 - Athena Semiconductors, Inc. announced it has closed its Series B preferred stock financing round totaling $10 million. Samsung Electronics Co., Ltd. led the current round and Needham Capital, a leading New York investment banking firm, also joined the round. Several existing investors, including Alliance Ventures, participated in the round as well. The new funding brings the total amount raised to date to $20 million, including $10 million from a Series A preferred stock financing round.
Athena Semiconductors is a fabless integrated circuits (IC) company specializing in single-chip CMOS radio transceiver IC products. The company’s products address rapidly growing broadband communications and convergence market needs for delivering video, audio and data services to wireless devices. The current round of funding will be used to bring the company’s products to market, for sales and marketing efforts and for further product development.
“Athena Semiconductors has developed a great product, business model and management team to address one of the fastest growing technology segments,” said Jae Joong Kwon, VP & General Manager of Corporate Venture Investment Team, Samsung Electronics. “Samsung is pleased by the strong opportunity Athena has created for itself to provide competitive, leading semiconductor solutions for a multi-billion dollar wireless market.”
“Having Samsung lead the current round of investment is a tribute to the strides our company has made to develop leading wireless semiconductor solutions,” said Chandrashekar Reddy, CEO, for Athena Semiconductors. “Samsung’s global leadership in consumer electronics products provides Athena an excellent base for our company’s next generation broadband wireless and convergence semiconductor products.”
About Samsung Electronics
Samsung Electronics Co., Ltd. is a global leader in semiconductor, telecommunication, and digital convergence technology. Samsung Electronics employs approximately 75,000 people in 89 offices in 47 countries. The company is the world's largest producer of memory chips, TFT-LCDs, CDMA mobile phones, monitors and VCRs. Samsung Electronics consists of four main business units: Digital Media Network, Device Solution Network, Telecommunication Network and Digital Appliance Network Businesses. For more information, please visit http://www.samsung.com.
About Athena Semiconductors
Athena Semiconductors, Inc. is a fabless semiconductor company delivering system-on-a-chip solutions for the global wireless broadband market. The company’s standards-based products enable the delivery of wireless broadband voice, video and data services with Quality-of-Service capabilities to ensure high reliability. Athena’s corporate headquarters are in Fremont, California and design centers are located in Athens, Greece and Bangalore, India. The company’s global team has strong CMOS RF, DSP, networking IC and software expertise to deliver its high performance products to the wireless Local-, Wide- and Personal-Area-Network (LAN, WAN and PAN) markets. More information about Athena Semiconductors can be found at http://www.athenasemi.com.
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