SkyCross Receives $2 Million Investment
from Gabriel Venture Partners
MELBOURNE, Florida, August 17, 2004 - SkyCross, a leading developer
of advanced wireless antenna solutions, announced that it received
a $2 million investment from Gabriel Venture Partners this month.
Gabriel is an esteemed early-stage venture capital firm that specializes
in wireless as one of its target investment sectors.
This investment comes in the wake of SkyCross' partnership with
SK Telecom, and a string of design successes in the wireless marketplace.
SK Telecom has invested in SkyCross as well. SkyCross will use
the funding to accelerate the growth of its design and production
capabilities while continuing to expand in global markets.
"There is great potential in the high performance antenna
industry as the growing family of wireless mobile devices continues
to flourish," said Dr. Chris Morton, CEO of SkyCross. "We
are pleased that a high-caliber investor such as Gabriel recognizes
the importance of our innovative antennas and our capabilities;
I look forward to working with them."
"SkyCross' breakthrough antenna innovation not only improves
the reception but also reduces the size and increases the battery
life of cell phones," said Scott Chou, a general partner of
Gabriel Venture Partners. "We remain committed to our investment
thesis around power and form factor innovations as strategic imperatives
for mobile wireless, and SkyCross is an excellent representative
investment in this area." Gabriel is in the process of completing
several complementary investments in this field.
In conjunction with the financing, Scott Chou will join the Board
of Directors. Mr. Chou specializes in disruptive technologies and
has extensive experience working with early-stage technology ventures
both as a venture capitalist and as an entrepreneur. Mr. Chou serves
on a number of boards, including NextG Networks and Ondax. About SkyCross
SkyCross is a leading developer of next-generation
RF technology for mobile and fixed wireless telecommunications,
telematics, satellite, and mobile computing markets. SkyCross'
antenna solutions are based on patented Meander Line Antenna technology
that allows engineers to design high performance, multi-mode, multi-frequency
antennas that can be hidden inside a mobile casing, have a very
low radiation profile, and offer much better gain characteristics
over existing solutions. Typical applications for the antennas
include handsets, laptop computers, PDAs, automobiles, household
electronics and base stations. For details, please visit www.skycross.com.
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