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Wispry Secures $6.5 Million Series A Funding to Drive Growth of RF Tunable Filter and RF Switch Products for the Cellular Phone Handset MarketIRVINE, Calif., Feb. 23 /PRNewswire/ -- Wispry, Inc., developer of low-cost, high-performance tunable radio frequency (RF) components and modules for the wireless industry, today announced it has closed $6.5 million in Series A financing. The money will fund the continued growth of the company as it ramps the development, production and sales of landmark RF tunable filter and RF switch products for the cellular phone handset market. Blueprint Ventures led the round, which included additional investment from American River Ventures, Sid R. Bass Associates and Shepherd Ventures as well as existing investors. Wispry, formed through a corporate-spinout of the RF/Wireless business unit of Coventor, Inc., the market-leading MEMS software design company, is a fabless product company that is revolutionizing wireless architectures by enabling cost-effective integration of tunable, reconfigurable RF front-ends driven by the global demand for multi-band, multi-standard handsets. "We are excited by the potential of RF-MEMS to enable innovative products and architectures in wireless communications," said Harry Laswell, general partner, American River Ventures. "We believe Wispry is the emerging leader in this space and we look forward to working closely with the company as they bring their products to market." "This investment validates our technology and market direction," said Jeff Hilbert, president, CEO and co-founder of Wispry. "We believe RF-MEMS is poised to play a significant role in redefining the architecture of the rapidly evolving multi-mode and multi-standard handset market. Unlike competing technologies, our MEMS-based products reduce space, power consumption and cost while simultaneously attaining outstanding RF performance, adaptability and agility." "We received a tremendous amount of investor interest from both venture capitalists and strategic investors for this round. However, we decided to limit our capital raise until we make several additional customer announcements later this year," Hilbert continued. "We may consider a series B round later this year to accommodate the strong investment demand we received from several strategic investors." About Wispry Inc. Wispry, headquartered in Irvine, Calif., designs and markets hardware components and modules to radio frequency (RF) system manufacturers of voice and data communications and acquisition products. Utilizing the Company's core competency in RF micro-electro-mechanical systems (RF-MEMS) technology, Wispry's products enable system designers to achieve the architectural innovation required for the growing diversity of mobile and fixed electronic applications and networks. For more information, visit http://www.wispry.com/. About Blueprint Ventures Blueprint Ventures is a seed- and early-stage venture capital firm focused on information technology including systems, software and components. Located in the San Francisco Bay Area, the firm brings extensive experience in early-stage investing combined with an emphasis on corporate IP (intellectual property) spinouts. With two funds under management, Blueprint targets companies which help deliver disruptive technologies to market in a capital and time-efficient manner. Blueprint backs seasoned entrepreneurs and helps them achieve market leadership positions. Investments include AirTight, KeyEye, LANDesk, Platform Solutions, Vidient and Wispry. For more information, visit http://www.blueprintventures.com/. About American River Ventures American River Ventures (ARV), with over $100 million under management, is an early-stage venture capital firm based in Roseville, Calif. ARV invests in information technology and communications companies in Northern Calif., Southern Calif. and throughout the Western United States. The firm helps entrepreneurs accelerate the growth of their companies by applying the investment team's technical backgrounds and extensive operating experience. More information can be found at http://www.arventures.com/ or by calling 916-780-2828. (C)2005 WiSpry, Inc. Wispry Inc. CONTACT: Lisa Porter of Porter Creative Group, +1-949-752-5891,[email protected], for Wispry Inc. Web site: http://www.arventures.com/ Web site: http://www.blueprintventures.com/ Web site: http://www.wispry.com/ |