Toronto-based Peraso, a fabless semiconductor company specializing in the development of 60 GHz wireless chip sets, has announced $20 million in series C financing.
The round was co-led by US semiconductor company IDT, and existing investor Roadmap Capital. iNovia Capital also participated in the round.
Peraso is in production with WiGig IC solutions, which is meant to address both next generation WiFi opportunities in the consumer electronics space, as well as outdoor devices in the 60 GHz wireless infrastructure space.
“The interest we’re seeing in WiGig is tremendous,” said Ron Glibbery, President and CEO of Peraso. “Multi-Gigabit wireless connectivity is something that more and more consumer electronics and wireless infrastructure manufacturers are seeking to incorporate in their products. Raising this capital allows Peraso to take our sales to the next level.”
Currently, Peraso is the only company offering a WiGig USB stick solution for legacy devices, which is necessary for backward compatibility of existing WiFi equipment, according to Roadmap Principal Imed Zine. “Peraso has demonstrated interoperability with a variety of available WiGig products which are based on either Intel or Qualcomm chips; this is an achievement which is essential to create a robust WiGig ecosystem,” Zine said.