SkyCross Receives $14 Million
Investment
Led by TL Ventures
MELBOURNE, Florida, January 3, 2006 – SkyCross, a leading
developer of advanced wireless antenna solutions, today announced
the closure of a $14 million round of financing led by TL Ventures.
TL Ventures is an esteemed investment firm engaged in venture capital
for more than 17 years with over $1.4 billion under management
focusing on communications, IT and semiconductors. The investment
will provide capital to fuel continued growth at Skycross.
This investment reinforces a string of SkyCross design successes
in the wireless marketplace, including numerous embedded antennas
for handsets and PC data cards, as well as for mobile video devices.
The company will use the funding to accelerate the growth of its
design and production capabilities while continuing to expand in
global markets.
“We are delighted to be endorsed by an investor of this
stature. TL Ventures’ participation validates our traction
with leading customers in the exploding wireless mobile device
industry and our prospects for future growth” said Dr. Chris
Morton, CEO of SkyCross. “It has been a pleasure to engage
the talented team at TL Ventures.”
“SkyCross is poised for continued success with a strong
management team, considerable market footprint, and solid intellectual
property,” said Michael Burns, managing director at TL Ventures. “We
are pleased to invest in a company that has demonstrated the significant
progress that SkyCross has. We look forward to helping the company
realize its full potential.”
About TL Ventures
TL Ventures (www.tlventures.com), established
in 1988, has over $1.4 billion under management and is currently
making new investments from its sixth fund, TL Ventures V, which
has $686 million in committed capital. Focused on venture investing
in category-defining, early-stage companies in information technology,
communications and biotechnology, the Firm provides portfolio companies
with operational, entrepreneurial and financial expertise and a
global network of resources and contacts. TL Ventures has offices
in Philadelphia, Austin and Silicon Valley.
About SkyCross
SkyCross is a leading developer of next-generation RF technology
for mobile and fixed wireless telecommunications and mobile computing
markets. SkyCross' antenna solutions are based on several unique
and patented antenna technologies and designs that allow its
engineers to deliver 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 mobile handsets, laptop computers, PC cards, access points,
and household electronics. For details, please visit www.skycross.com.
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