Linkoping University spin-out Coresonic raises €2M

Funding

Coresonic AB, a provider of baseband processor technology, has raised € 2 million in a round led by SEB Venture Capital, with existing investor Industrifonden following on. The capital will enable the Linkoping University spin-out to drive international sales expansion and continue to develop its technology platform.

Coresonic was founded in 2004 to develop a patented technology for digital signal processing. Its customers are chip manufacturers with products that include signal processing, for use in radios, phones wifi devices, and so on.

“Digital signal processing is not only a prerequisite for virtually all contemporary communications and electronics consumer devices, it has also become the dominant value driver for the entire semiconductor industry,” noted David Sonnek, Head of Business Development Technology Investments at SEB Venture Capital.

“The main bottleneck is no longer processing speed for computer applications, it is the need to improve communications and enhance the consumer experience of multimedia content. The digital signal path is therefore one of our main investment areas and Coresonic is a company ideally positioned to become a leading actor in this new arena,” Sonnek said.

The company has reached the first commercial agreements with large customers, providing proof of concept for the technology and for the licensing business model. There is also a strong pipeline of prospective customers.

Johan Lodenius, CEO of Coresonic, said the additional funding and shareholder commitment secures the company’s expansion plans. “Our breakthrough innovations in signal processing, the foundation of all digital communications systems, provide substantial reductions of cost, power and development time for our customers.”