Telecom Lead America: Intel Capital has invested in Sand
9, a MEMS technology company developing precision timing products for wireless
and wired applications.
Sand 9 said it has raised $23 million in Series C
financing round led by Intel Capital with significant participation from Vulcan
Capital.
Intel Capital and Vulcan Capital join existing investors
Commonwealth Capital Ventures, Flybridge Capital Partners, General Catalyst Partners,
Khosla Ventures and CSR.
Sand 9 will use funds to ramp volume production as they
go to market and to rapidly expand their product portfolio. This significant
infusion of capital will enable Sand 9 to commercialize its first product, ramp
volume production and rapidly execute on expanding our product portfolio to
service broader market needs.
The MEMS oscillator market is still at a nascent stage,
representing less than one percent of the total timing market of $6.3 billion.
Sand 9’s precision MEMS technology has the potential to
address the limitations of quartz timing products and substantially improve the
performance, quality and cost of mobile devices while making them easier to
design and manufacture” said David Flanagan, managing director, Intel Capital.
Intel Capital’s depth of knowledge and attention to
detail have been extremely beneficial to Sand 9 as we migrate from research and
development toward shipping product into the market,” said Vince Graziani, CEO,
Sand 9.
As part of the funding, Intel Capital appointed Siva
Sivaram, an industry veteran with significant semiconductor process and
operational experience as well as founder and CEO of Twin Creeks Technologies,
to join the Sand 9 Board of Directors.
