UK-based wireless technology company CSR and US-based semiconductor company Intel’s corporate venturing unit have helped micro-electromechanical systems company Sand 9 raise $23m. Intel Capital was joined in the series C round by Vulcan Capital, US-based software company Microsoft’s co-founder Paul Allen’s investment vehicle, as well as venture firms Commonwealth Capital Ventures, Flybridge Capital Partners, General Catalyst Partners and Khosla Ventures. David Flanagan, managing director of Intel Capital, said: “Sand 9’s precision MEMS technology has the potential to address the limitations of quartz timing products and substantially improve the performance, quality and cost of mobile devices while making them easier to design and manufacture. We look forward to working with Sand 9’s outstanding team, and welcome them as a new Intel Capital portfolio company.”Alongside its funding Intel Capital appointed Dr. Siva Sivaram, chief executive of Twin Creeks Technologies, to join the Sand 9 Board of Directors.
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CSR, Intel Capital blast Sand 9 to $23m
Jun 27, 2012 • Toby Lewis
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