WiSpry raises $1 million
to expand product development
Company's products increase efficiency,
performance of wireless systems
Irvine, CA, USA -- March 18, 2004 -- WiSpry (www.wispry.com),
an Irvine-based company that develops and markets tunable RF components and
modules for the wireless industry, today announced that it has raised $1 million
in initial funding to expand product design and development as well as its
sales and marketing efforts.
The round was led by Tech Coast Angels, which invested more than $900,000 in
this funding round.
"We are very pleased that Tech Coast Angels chose to participate in this
funding round for WiSpry," said Jeff Hilbert, president and chief executive
officer of WiSpry. "TCA brings a lot more than just dollars to the table.
Working with Tech Coast Angels has significantly improved our marketing strategy
and helped us form a clearer vision."
WiSpry is a fab-less product company that is revolutionizing wireless architectures
by enabling cost-effective integration of tunable, re-configurable RF front-ends
resulting in agile, broadband wireless products. WiSpry's products are implemented
using micro-electro-mechanical systems (MEMS) technology. MEMS-enabled products
provide RF system manufacturers with unique performance, cost and power consumption
characteristics.
WiSpry's initial products are a line of RF-MEMS switches for mode switching,
antenna diversity and configurable power amplifier applications. Unlike competing
technologies, MEMS switches can reduce space, cost and achieve a combination
of high isolation and low insertion loss which will reduce power consumption,
increasingly important in consumer electronics ranging from cell phones and
PDAs to game controllers, Hilbert said.
"WiSpry's MEMS technology, by making wireless products work longer, perform
better and include more features, will be an important factor in the improving
and rapidly growing communications sector," said Michael Elconin, member
of Tech Coast Angels.
TCA is one of the largest and most active groups of angel investors in the
country, and collectively its members are the dominant source of early-stage
funding and guidance for successful emerging companies in Southern California.
Applications for funding and complete information about the TCA process are
available at the group's Web site at www.techcoastangels.com.
About WiSpry
WiSpry is
developing low-cost high-performance components and modules
for radio frequency (RF) system manufacturers. Based on the
company's core competencies in micro-electro-mechanical systems
(MEMS) technology and manufacturing, Wispry's products will
enable system designers to achieve the architectural innovation
required for the growing diversity of mobile and fixed applications
and networks. Wispry was formed through a spin-off of the RF/Wireless
business unit of Coventor,
Inc., the market-leading MEMS software company. Wispry
is headquartered in Irvine, California. For more information,
please go to www.wispry.com or
contact Jeff Hilbert, President and CEO, at jeff.hilbert@wispry.com or
at 1-949-756-0022.
About Tech Coast Angels
Tech
Coast Angels (TCA) is a network of individual angel investors
who, collectively, are the dominant source of early-stage funding
and guidance for successful emerging companies in Southern
California. TCA members have personally invested more than
$49 million in 74 companies since the group's founding in 1997.
Those 74 companies have received $499 million in additional
funding from other investors in both initial and follow-on
rounds.
One of the largest and most active angel groups in the country, TCA's membership
is comprised of more than 200 individual angels investors linked through networks
in Los Angeles, Orange County and San Diego. TCA members invest as individuals,
but work together in a highly structured manner to source promising investment
opportunities, conduct due diligence and mentor companies in Southern California.
For more information, please go to www.techcoastangels.com or
contact Angie Frazier at The Silver Company for Tech Coast Angels, 206-219-9102
or angie@thesilvercompany.com.
© 2009 WiSpry, Inc.
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