TORONTO, ON, April 21st, 2016 – Peraso Technologies Inc., a leader in Wireless Gigabit (WiGig®) chipsets, announced today that it has raised a $20 million funding round. The round was co-led by US semiconductor company IDT (IDTI on NASDAQ), and existing investor Roadmap Capital (Roadmap), with additional financing from iNovia Capital.
Peraso is in production with WiGig® IC solutions, addressing both next generation WiFi opportunities in the consumer electronics (CE) space, as well as outdoor devices in the 60 GHz wireless infrastructure space. The investment will be used to increase the company’s capacity to address the significant customer interest in all of the targeted market opportunities, including smart phones and virtual reality (VR).
“The interest we’re seeing in WiGig® is tremendous,” said Ron Glibbery, President and CEO of Peraso. “Multi-Gigabit wireless connectivity is something that more and more CE and wireless infrastructure manufacturers are seeking to incorporate in their products. Raising this capital allows Peraso to take our sales to the next level. Participation by IDT provides further validation of the market opportunity, and continued participation from Roadmap, as well as iNovia, speaks to the tremendous success the company has demonstrated in getting our first ICs to market.”