Stathera Inc., a provider of MEMS (Micro-electromechanical Systems) timing solutions, announced that the company has raised $15 million in a Series A funding round. The funding round was co-led by BDC Capital’s Deep Tech Venture Fund and Celesta Capital, with additional participation from strategic investors including MediaTek, Seiko Epson, and TXC.
What does the funding mean for Stathera?
“Tech scaling using conventional timing architectures has hit a wall regarding synchronizing next-generation electronics. Stathera’s tech introduces a new approach to integrating and manufacturing timing devices,” said George Xereas, CEO and Co-founder of Stathera.
“We are excited to be the only company with state-of-the-art DualModeTM frequency technology, which has the potential to re-architect the entire $9.4 Billion electronics timing industry. We are grateful to our investors for recognizing and investing in this potential, which will allow us to expand our world class team and drive commercialization,” George added.
As a core component of their commercialization strategy, Stathera is developing numerous strategic partnerships with industry-leading companies who will help enable global distribution of their products. Stathera has entered into a commercial collaboration agreement with South Korean conglomerate, Doosan. In addition, the company is also pursuing partnerships with semiconductor industry leader MediaTek, as well as quartz timing leader TXC.
Stathera will use the proceeds to fully commercialize its DualModeTM GEN1 MEMS product line, increasing production capacity in the months ahead to meet anticipated client demand.
In parallel, Stathera also 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.
What are the investors’ thoughts on Stathera?
“Businesses and consumers today expect more. It is clear that next generation electronics are in great need of new solutions that can meet the growing demands of performance and cost,” commented Nicholas Brathwaite, Founding Managing Partner of Celesta Capital.
“We are delighted to support the fantastic team at Stathera as they work to bring their differentiated technology to the market at scale,” Nicholas Brathwaite further commented.
“We are proud to support Montreal-based and founded Stathera and its highly talented team,” adds Charles Lespérance, Partner, Deep Tech venture Fund at BDC Capital.
“Alongside other notable investors in this round, 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,’’ Charles further added.