DecaWave, (www.decawave.com), the pioneering fabless semiconductor company, has announced it has secured investment from LG, the Korean global electronics company. The investment announcement comes six months after DecaWave announced a module and sales agreement with LG Innotek, LGs Korea-based electronic components company, based on ScenSor, DecaWave's revolutionary chip for the real time location system (RTLS) and wireless sensor network (WSN) markets.
DecaWave's flagship product, ScenSor is a revolutionary chip which uses ultra wideband (UWB) technology, based on the IEEE802.15.4a standard, to achieve market-leading precision, and ultra low power consumption in both transmitting and receiving. ScenSor's accuracy, power saving and energy harvesting capabilities make it uniquely suitable for use in applications across a diverse range of verticals in the RTLS and WSN markets, including manufacturing, healthcare, lighting, security, transport, and inventory & supply chain management.
"We regard LG's investment as the most significant endorsement of Decawave's and ScenSor's potential" says Ciaran Connell, CEO of DecaWave. "LG is a world leader in innovation, and DecaWave's engineers have been working closely and sharing our technology with LG Innotek's leading researchers and technologists since December 2009. We therefore greatly welcome LG's investment, and we view it as a high-value endorsement of our technology from a world-leading innovator," he says.
"LG is delighted to invest in DecaWave, a company we regard as an innovator in ultra wideband, RTLS and WSN technologies" says Mr. Cheol-Kee Hong, Head of R&D Centre, Vice President, LG Innotek Co. Ltd. "Collaborating with the DecaWave's team over the past 6 months has convinced LG of DecaWave's expertise, and of ScenSor's capabilities and enormous potential in current and emerging markets", he says.
DecaWave was advised by Investor First on this transaction. DecaWave is privately held, and based in Dublin Ireland, with offices in San Jose California and Toulouse France.
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