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Syndiant Raises $10.7 Million in Series B Funding
DALLAS (August 20, 2009) – Syndiant, enabling consumers to enjoy a large screen experience in handheld electronics, closed a $10.7 million series B funding round with private investors and the Texas Emerging Technology Fund. The funding enables Syndiant to accelerate its mass production ramp and product development roadmap.
“Securing this funding was a huge accomplishment, especially given the current state of the economy. It speaks volumes to the opportunity we have with our superior technology and business strategy,” said Mark Harward, CEO of Syndiant. “A strong balance sheet enables us to ramp volume sales while we simultaneously extend our technology leadership position in the pico projector market. Syndiant has a clear advantage over our competition – our patented architecture and small pixel technology enables high definition in projectors tiny enough to embed in cell phones and cameras. We are excited about engagements with numerous OEMs, and our strong balance sheet will hasten market acceptance of next-generation pico projectors that provide better performance and higher resolution.”
“The Texas Emerging Technology Fund (TETF) was an important initial investor in this round. Syndiant is proud to have met the milestones on schedule to secure the second and final tranche of the TETF’s $3.5M investment,” Harward stated. The TETF mission is to expedite the commercialization of innovations, create and establish private sector entities that will increase high-quality jobs and increase applied research projects for Texas Institutions of Higher Education.
Syndiant’s first VueG8® product, an SVGA and WVGA micro display, is ramping to volume production now. Several new products in Syndiant’s VueG8 product family will be announced in the coming months.
Syndiant manufactures the world’s smallest and highest resolution spatial light modulating chips. Syndiant’s patented technologies will provide a large screen experience in handheld electronics, such as smartphones, notebook computers, portable media players, video game consoles and cameras. The company is headquartered in Dallas, with a branch office in Taiwan. For more information and a video that demonstrates Syndiant’s technology, visit www.syndiant.com.