eoSemi closes £3M round for electronic timing technology

Funding

Semiconductor company eoSemi Ltd has closed a £3million funding round led by NESTA Investments and Capital-E, alongside existing investors Enterprise Ventures, via its RisingStars Growth Fund II and South Yorkshire Investment Fund.

The company has developed a new timing device based entirely on silicon circuitry, which is designed to replace the old quartz crystal mechanism that is still used in even the newest consumer and industrial devices. Although other technology has developed rapidly, timing mechanisms used in all varieties of electronic systems are still largely reliant on old twentieth century quartz technology.

Traditional quartz crystals have high manufacturing costs, can be bulky in size and are susceptible to shock damage. eoSemi’s new silicon approach allows a timing reference to be placed directly onto the existing silicon of the device, reducing the number of parts required for each device and therefore the cost and size.

This could replace quartz crystal timing devices in a wide range of consumer goods from mobile phones to televisions, as well as in industrial and automotive systems and wireless applications.

eoSemi, based in Rotherham, South Yorkshire, was founded by Ian Macbeth, Adrian Bratt, Steve Harrold and Jon Goldfinch, who each have years of experience in the semiconductor industry.  The company has also received significant support from Alastair Walmsley, part time finance director for eoSemi.  

Macbeth, CEO of eoSemi, said, “This investment represents a major milestone for eoSemi as we make the transition from a successful early-stage technology startup into a commercial enterprise facing a tremendous global market.”

Marc Wachsmuth, Partner, Capital E Partners said eoSemi, "Has a differentiated market position in a large and growing market. It combines a credible team, relative low technology hurdles with defensible IP and good early commercial traction. We are looking forward to helping the company to growth and success."