Adimos Receives $12 Million From JVP, Benchmark Capital, Gemini Israel And Genesis Campus in Series A Funding
Fast Growing Semiconductor Firm to Target Asian Market
TEL AVIV, Israel and TOKYO, Aug. 4 /PRNewswire/ -- Adimos, a progressive company providing wireless multimedia connectivity solutions for consumer appliances in the home, announced today that it has successfully raised $12M in venture capital funding from JVP, Benchmark Capital, Gemini Israel Venture Funds and Genesis Campus. The Series A funding will be used to fuel the company's growth and its research and development activities. Adimos is based in Silicon Valley with research and development facilities in Israel and a growing presence in Japan. The company is headed by CEO Sandeep Kumar, an industry veteran with 17 years of experience in operations, marketing, management and development of high tech semiconductor products. The founding team of Mr. Eran Igler, Dr. Miki Genossar, Mr. Sandeep Kumar and Mr. Zeev Shpiro collectively bring over 75 years of development and management experience in semiconductor and wireless technologies. Together with the seasoned team that has joined them, they are well positioned to become leaders in the multimedia home connectivity market. "We see Adimos as a strategic investment in a company that is helping to drive the wireless multimedia and digital home revolution," said Zeljka Matutinovic, JVP general partner. "We're excited to leverage the business development contacts of venture partner Hiroshi Ikegaya in our Tokyo office to ensure the company's growth and long term success." "Consumer electronics providers worldwide are seeking out technologies that will enable the high bandwidth, wireless home," said Nachman Shelef, general partner at Benchmark Capital. "We believe that Adimos has the technology, strategy and direction to achieve a strong leadership position in this emerging market." "We're very pleased to be working with the top venture firms in the industry to grow Adimos into a formidable player in the multimedia home connectivity market," said CEO Sandeep Kumar. "We welcome JVP, Benchmark and Gemini to the Adimos board. With their partnership, expertise and business development network, our company is in an excellent position to reach key customers." About JVP JVP is a leading international venture capital firm focusing on investments in early stage companies in the enterprise software & networking, semiconductors & components and communications & mobile infrastructure sectors. With over $670 million under management, and offices in NY, London, Jerusalem and Tokyo, JVP leverages its international presence, vast expertise and substantial capital base to build companies with the potential to shape and dominate global markets. Through thirteen successful exits including Chromatis (acquired by Lucent Technologies), Precise (acquired by Veritas), Netro (NTRO), T.sqware (acquired by Globespan), Scorpio Communications (acquired by US Robotics) and Fundtech (FNDT), JVP continues to attract top tier institutional and strategic investors worldwide. To learn more about JVP, visit www.jvpvc.com. About Benchmark Capital Benchmark Capital was founded in 1995 with the mission of helping talented entrepreneurs build major technology enterprises focused on long-term growth. Managing more than $2.3 billion in committed venture capital, Benchmark takes a labor-intensive, team-oriented approach to venture investing in order to deliver a superior level of service to its portfolio companies. The firm's portfolio includes such franchise companies as eBay, Handspring, Juniper Networks, and Red Hat Software. For more information on Benchmark, visit www.benchmark.com. About Gemini A pioneer in Israel's venture capital industry, Gemini provides start-up financing and expert guidance to talented entrepreneurs. Through offices in Silicon Valley and Israel, Gemini offers access to U.S.-based investors and a global network of corporate partners. With over $350 million under management in three funds, Gemini focuses on seed and early stage companies in the fields of communications, networking, Internet infrastructure, enterprise software and fabless semiconductors. Gemini's portfolio includes some of the hottest Israeli high tech start-ups, and its 10-year track record boasts nearly 20 successful exits including Precise, Verisity, Jacada, commtouch and Ceragon. For more information on Gemini, visit www.gemini.co.il About Genesis Campus Genesis Campus, founded in 2001 by serial entrepreneur Wu-Fu Chen and Roman Kikta, is a business accelerator and early-stage venture capital fund headquartered in the Telecom Corridor(R) in Richardson, Texas. The firm is focused on information and wireless communication technologies, including their associated systems, networks, components and applications. Genesis Campus serves as a facilitator for the development of new businesses, providing capital, support services, and strategic relationships needed by early stage companies. The firm leverages the appropriate capital, channels, suppliers, skills and resources needed to optimize the time-to-revenue for emerging technology companies in the start-up process. More information about Genesis Campus is available on the website: www.genesiscampus.com Media Contacts: Susan Lindner JVP 212-737-3160 firstname.lastname@example.org Sandeep Kumar Adimos Inc. Sandeep.email@example.com
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