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AUSTIN, Texas-Ultra-wideband semiconductor company Alereon said it has received $31.5 million in the first round of its series A financing.
The financing, which was led by Austin Ventures, included companies such as Pharos Capital, Centennial Ventures, Kinetic Ventures, eCentury, Duchossois Technology Partners, PTV Sciences and other investors.
Alereon expects to use the funding to complete the development of its UWB chipset solution, bring its product to market, secure design wins and achieve initial revenue.
The company launched in September.
