WiGig Startup Raises $42 Million in New Financing

Peraso Technologies, a fabless semiconductor company and developer of mmWave technology and WiGig chipsets, has raised $42 million in funding. The funding was co-led by two strategic investors and existing investor Roadmap Capital. This level of funding ranks near the top for all semiconductor companies funded in 2018.

Peraso is a Canada-based startup, which received its initial financing in October 2009. The company is an original member of the Wireless Gigabit (WiGig) 60 GHz Alliance and was a key contributor in the IEEE 802.11ad specification process through its unification into the Wi-Fi Alliance, where it remains an active member. The company specializes in the development of integrated circuits for the 60 GHz wireless marketplace.

According to Bill McLean, President and CEO of Peraso, this latest round of funding reaffirms investors' confidence in the progress that the company is making and the future for both Peraso and the quickly expanding market for mmWave technology-based products. Raising this capital will allow the company to take sales to the next level, especially as an increasing number of consumer electronics and wireless infrastructure manufacturers choose to incorporate multi-gigabit wireless connectivity into their products.

Peraso is currently in production with WiGig IC solutions meant to address next generation WiFi opportunities in the Fixed Wireless Access, as well as wireless networking and 4K wireless video distribution. In the Fixed Wireless Access market, OEMs have concluded that the 5 GHz band has become too congested, and as such, continuing to utilize traditional WiFi technology such as 802.11ax offers diminishing returns. The 60 GHz band offers wireless ISPs uncongested spectrum at highly competitive price points.

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