eoSemi - Seedcorn Funding


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Investors: 
EV Group (Rising Stars Growth Fund), South Yorkshire Investment Fund (Seedcorn Fund)
eoSemi

The newest media phone still relies on technologies developed during the early 20th century. Whilst everything else in telecoms might have changed radically, a vibrating crystal is still used in nearly every electronic device on the planet to provide a stable timing reference.

Yorkshire-based eoSemi has now received its first venture capital investment to bring a new timing device to market, based entirely on silicon circuitry. EV has completed an investment in the company via its RisingStars Growth Fund and alongside the South Yorkshire Investment Fund's Seedcorn Fund.

eoSemi, which is based in the AMP Technology Centre in Rotherham, is a semi-conductor company with a technology to replace quartz crystals in all varieties of electronic systems. The company was founded by Ian Macbeth and three of this colleagues, who all have vast expereince of the semi-condutor industry.

eoSemi has developed a patent pending solution for all-silicon replacement of quartz crystals allowing a move away from physically-vibrating devices, predominantly crystals, with the associated high manufacturing cost, large package size and susceptibility to shock. Moreover, the all-silicon approach allows the timing reference to be incorporated onto the existing silicon of the device for the first time thereby reducing part-count, cost and size further.

The markets to which this new technology could be applied are wide ranging, from consumer goods, industrial & automotive systems and wireless applications, to more basic applications such as clocks and timers.

Jonathan Diggines, CEO at EV, commented, "There aren't many semi-condutor businesses anywhere in the UK, so it is particularly significant to see eoSemi, a company with such potential, developing in the Yorkshire region. We will give eoSemi our full support."

Ed French, Investment Director at EV, commented, "As a specialist technology investor, EV likes to support companies with potential, especially where we are able to get involved at the very earliest stages of development, which is very much EV Tech's focus".

"We believe the company's technology has a bright future, and look forward to continuing to support eoSemi through the challenges of taking its groundbreaking concept through to the commercialisation stage. We are excited by the potential of eoSemi - Ian Macbeth and his team have taken a completely different approach and it has huge potential in a number of market applications".

Ian Macbeth of eoSemi, said, "We approached a number of investors looking for help to explore the potential of our technology. EV provided invaluable assistance in exploring the alternative commercial routes going forward".

"EV's investment has given us the opportunity to commercialise our technology. There are few investors that would have taken such a keen interest in the company and its technology at this proof of concept stage".

Date: 
2009-12-17
Company: 
eoSemi