Nanoradio has Secured Financing of 12,5 M EUR, and Brings in 2 new Investors to Strengthen Nanoradio's Competitiveness

Nanoradio has Secured Financing of 12,5 M EUR, and Brings in 2 new Investors to Strengthen Nanoradio's Competitiveness

KISTA, Sweden, July 8/PRNewswire/ -- Nanoradio today announced that they have signed an agreement with two new
investors, Viking Venture and Creandum, who together with the current
investors, Ferd Venture, Industrifonden, Innovacom, Nordic Venture Partners,
Teknoinvest will fund Nanoradio through its growth phase.

The Nanoradio "Always On WiFi"(TM) solution - the NRX700/2 Wi-Fi chipset,
which offers fully tested 802.11b/g functionality, featuring ultra-low power
consumption, has won tremendous customer attraction. With the new investment,
Nanoradio will be well equipped to support its volume growth together with a
more ambitious launch plan of a new line of competitive products.

"This means a lot to us, and the investment in Nanoradio is a significant
recognition, especially in this time when it is proven to be so hard to raise
capital, of the trust in our team and our capability to deliver according to
our plans, says Tord Wingren, President & CEO of Nanoradio AB. "The focus we
have in our daily work, is to continue to provide world class WiFi solutions
to Tier 1 Mobile Phone makers".

The Nanoradio WiFi solution is doubling the standby and talk time
compared to standard WiFi enabled phone offerings. This results in that the
WiFi enabled phone customers can adopt a behaviour of keeping the WiFi Always
On, removing the need for a "turn on and off the WiFi behaviour" in order to
save battery time. This will grow in significance, especially when operating
in WiFi networks which are built to complement high speed 3G+ mobile
networks.

"Nanoradio has taken a technology leading position with its competitive
advantages in a fast growing market" says Jostein Vik, Partner in Viking
Venture. The WiFi market in handheld devices has had substantial growth the
last two years and are estimated to reach 20% coverage of the world mobile
phones next year. "Viking Venture have seen Nanoradio's team ability to
develop world class technology and to close deals with leading mobile phone
suppliers" Jostein Vik continues.

"Nanoradio is probably the most exciting semiconductor company
in the Nordic region. We were hugely impressed by Nanoradio's experienced
management team as well as the tremendous response from the customers.
Nanoradio is the first company to offer a solution that allows for having the
WiFi-functionality constantly switched on without draining the battery. The
market for this solution is enormous with hundreds of millions of
WiFi-devices including mobile phones that may benefit from Nanoradio's
technology", comments Martin Hauge, General Partner at Creandum.

About Nanoradio AB

Nanoradio is backed by Creandum, Ferd Venture, Industrifonden, Innovacom,
Nordic Venture Partners, Teknoinvest and Viking Venture.

Nanoradio design semiconductors with wireless capability for the cellular
and handheld market where buying decisions relate to power consumption,
stability, physical size, and total cost for customers.

Nanoradio has developed the most integrated circuits which bring
outstanding WLAN capabilities into mobile phones and consumer multimedia
electronics. Nanoradio's Wi-Fi chips target a range of applications,
including mobile phones, wireless network cameras for home surveillance,
Portable media Players and gaming devices. Another big area for Nanoradio is
the growing fixed-mobile convergence market with dual-mode phones.

The company was founded in March 2004 and it is a "fabless" company which
means that all manufacturing is outsourced. Nanoradio has a leading team of
extensive experience from the cellular and wireless industry as well as
semiconductor industry and start-ups. The head-quarter is in Kista, Sweden
and with sales offices in Korea, Japan and USA.

http://www.nanoradio.com

About Viking Venture

Viking Venture is one of the leading technology focused venture funds in
Norway with 200 million USD (NOK 1.1 billion) under management. The
investment company focuses on companies involved in electronics, software,
oil & gas, materials and clean technology. Viking Venture typically invests
in companies that have passed the seed phase and is ready for the
commercialization phase. The fund is a very active owner with a substantial
share in the portfolio companies.

http://www.vikingventure.com

About Creandum

Creandum is a Nordic venture capital firm investing in early-stage
technology companies. The firm has 120 million Euros under management and is
today the fastest growing independent partnership of its kind in the Nordic
region. Creandum invests in innovative companies in high growth markets led
by outstanding entrepreneurs. All investment professionals at Creandum has
started companies or been part of successful startups. For more information,
please visit http://www.creandum.com.

Source: Nanoradio AB

FOR FURTHER INFORMATION on Nanoradio solutions, please contact: Tord Wingren. President & CEO, tord.wingren@nanoradio.com, Phone: +46-705900567; Press: Annika Engelhart, Market Communicator, annika.engelhart@nanoradio.com

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