NemeriX Receives $22 Million in Series C Venture Capital Funding

NemeriX, a leading A-GPS solution provider based near Lugano, Switzerland, closed a $22m financing round. All existing investors (Atila Venture Partners, Auriga Partners, Oak Investment Partners, PolyTechnos Venture-Partners and VI Partners) participated.

NemeriX is a fabless semiconductor company offering the worlds lowest power Global Positioning System (GPS) and Location Based Services (LBS) platforms in rapidly growing markets such as mobile handsets and personal navigation devices. Semiconductor revenues in these markets are expected to reach $1 Billion by 2010.

Offering the lowest power GPS solutions on the market today, NemeriXs hosted A-GPS solutions integrate extended ephemeris assistance, SUPL and sensor-based inputs. This allows NemeriXs customers the ability to offer differentiated products and deliver an enhanced consumer experience.

Financing round allows continued development of innovative GPS solutions focused on personal navigation and mobile handset customers

This funding round will enable NemeriX to outperform the growth of the market, while continuing to provide our customers the support they need to get their products to market faster explained Steve Rees, Chairman of the Board. We have made tremendous progress in terms of building a strong team comprising highly experienced semiconductor and GPS technology experts and now have a clearly differentiated product portfolio which has resulted in many new customer relationships globally.

Headquartered in Manno, near Lugano in Switzerland, Nemerix SA is a venture-backed company that was founded in April 2002 by four individuals who were previously founders and executives of TCHIP SA.

Nemerix SA is a fabless semiconductor company specializing in low power RF technology which has developed IP and is completing the development of a chipset with software for the rapidly expanding GPS market. This technology is required for mobile phones (in particular the e911 initiative), the automotive sector, transport and PDAs and the recreational market. The company specializes in ultra low power GPS and LBS integrated circuits, software and firmware for GPS and wireless applications. NemeriXs devices enable battery powered location determination anywhere, anytime, facilitating the design and manufacture of truly differentiated products for both consumer and professional markets.

For more information, please visit www.nemerix.com