Stathera raises $15m in Series A funding round

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Stathera, a provider of MEMS (Micro-electromechanical Systems) timing solutions, has successfully raised $15m in a Series A funding round.

The round, co-led by BDC Capital’s Deep Tech Venture Fund and Celesta Capital, saw additional participation from strategic investors including MediaTek, Seiko Epson, and TXC.

“Technology scaling using conventional timing architectures has hit a wall when it comes to synchronising next-generation electronics. Stathera’s technology introduces a new approach to integrating and manufacturing timing devices,” said George Xereas, Stathera’s CEO and Co-founder. “We are excited to be the only company with state-of-the-art DualMode frequency technology, which has the potential to re-architect the entire $9.4bn electronics timing industry.”

At the heart of the company’s commercialisation strategy, Stathera is developing numerous strategic partnerships with companies who will help enable global distribution of their products.

Stathera has entered into a commercial collaboration agreement with South Korean conglomerate, Doosan and is pursuing partnerships with MediaTek, as well as quartz timing leader TXC.

“It is clear that next generation electronics are in great need of new solutions that can meet the growing demands of performance and cost,” said Nicholas Brathwaite, Founding Managing Partner of Celesta Capital.

Charles Lespérance, Partner, Deep Tech venture Fund at BDC Capital added, ‘’We’re confident that the company’s high-performance MEMS timing solutions developed to replace quartz oscillators will allow them to be at the forefront of innovation with forthcoming products that will enable new capabilities in sectors like IoT, computing, automotive and telecommunications.’’

Stathera intends to use the funds raised to fully commercialise its DualMode GEN1 MEMS timing product line and increase production capacity to meet anticipated customer demand. In parallel, Stathera said that it plans to invest heavily in the advancement of its GEN2 high-performance technology, which brings an improvement of one order of magnitude over legacy MEMS timing solutions.

With the Series A investment, BDC Capital Partner Charles Lespérance and Celesta Capital Partner Terry Gilton will join Stathera’s Board of Directors.