GainSpan Closes $19 Million Series D Financing Round Zebra Technologies and Oplink Communications among New Strategic Backers of Leading IoT Wi-Fi Solutions Provider
SAN JOSE, Calif., June 26, 2013 /PRNewswire/ -- GainSpan® Corporation, a leader in ultra-low power Wi-Fi connectivity for the Internet of Things (IoT), announced today that it has closed a $19 million funding, with participation of two new strategic investors: Zebra Technologies Corporation and Oplink Communications, Inc. Existing investors, Opus Capital, Intel Capital, New Venture Partners, Sigma Partners, Camp Ventures and Hatteras Funds, have also participated in the financing.
GainSpan will use the new funding to extend its leadership position in IoT Wi-Fi and to complete development and launch its recently introduced GS2000 based family of chips, modules and application development kits. The GS2000 is the industry's first chip to combine Wi-Fi and ZigBee IP on a single die and extends IP connectivity to more devices than ever before. According to technology research firm ABI Research, the number of "things" that will connect wirelessly to the internet is expected to reach 17 billion by 2015 and over 30 billion by 2020.
"Zebra is committed to providing more products and solutions to help businesses take advantage of the Internet of Things in their operations to gain greater visibility into their value chains. We are excited about how GainSpan's unique technology can enable new categories of products to become a part of the Internet of Things," said Phil Gerskovich, senior vice president new growth platforms, Zebra Technologies Corporation.
"GainSpan is recognized as a leader in low-power Wi-Fi technology," said Joe Liu, CEO of Oplink Communications, Inc. "We invested in GainSpan because its technology further strengthens Oplink Security's smart, cloud-based home and small business security alert service offerings."
"In this fast-growing IoT market space, our low-power Wi-Fi technology continues to be the leading choice among device and appliance manufacturers for connecting devices," added Greg Winner, president and CEO of GainSpan. "Our new family of GS2000 Wi-Fi and Wi-Fi/ZigBee IP chips and modules are on their way to penetrating new markets this year by making possible a whole new class of battery or line-powered connected devices. This funding will be used to help these products proliferate into a broad range of end products and to expand our sales, marketing and technical resources as we grow our customer base."
About GainSpan Corporation
GainSpan, a spinoff of Intel Corporation, is an innovator and leader in semiconductor solutions for wireless connectivity for the rapidly emerging Internet of Things. GainSpan's solutions let customers quickly and easily create connected products for smart energy, healthcare and control/monitoring in industrial, commercial and residential markets. With a broad portfolio of state-of the art low-power Wi-Fi and ZigBee/Wi-Fi chips, modules and software, GainSpan is changing the world by connecting Things to the Internet and People to Things. GainSpan is a member of the Wi-Fi Alliance® and the ZigBee Alliance. www.gainspan.com.
Carol Felton, Communications & PR
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SOURCE GainSpan Corporation