Alereon Inc., an ultrawideband (UWB) technology leader for mobile WiMedia and Wireless USB solutions, announced it has received a $4 M 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.”
“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 leading products and product plans to address many of Samsung’s potential future implementations of Wireless USB and UWB.”
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