MathStar raises $15.3 million in second round financing

August 14, 2002--MathStar has successfully raised $15.3 million in additional funding. Investors include leading institutional investors, a Minneapolis-based venture capital firm, and angel investors.

Aug 14th, 2002

August 14, 2002--MathStar, provider of high speed, high performance communications chips, today announced that it successfully raised $15.3 million in additional funding. Investors include leading institutional investors, a Minneapolis-based venture capital firm, and angel investors.

"Over the past fifteen years we have been fortunate to develop a strong network of loyal investors who are willing to invest in companies that develop and commercialize pioneering technologies," contends Douglas Phil, chairman and chief executive officer of MathStar. "Many of our investors also supported us with our last three technology companies. With MathStar, there is an opportunity to fundamentally change the semiconductor industry through the development of our proprietary new reconfigurable chip technology. We are grateful for the support of our shareholders and welcome the opportunity to grow MathStar into a significant presence in the semiconductor market."

MathStar is addressing new problems faced by the semiconductor industry. As chip geometries shrink and design and mask-set costs rise, MathStar believes that customers will want an off-the-shelf, high performance, reconfigurable device. MathStar's new technology targets the communications market with a reconfigurable chip that can provide the time to market advantages of Field Programmable Gate Array (FPGA) chips with the cost and performance advantages of Application Specific Integrated Circuit (ASIC--custom) chips

In addition, MathStar offers a full line of Physical Media Dependent (PMD) chips, including transimpedence amplifiers, VCSEL drivers, and SerDes devices. In the PMD market, MathStar competes on the basis of product performance, small form factor, and low power. Customers include manufacturers of fiber-optic modules and network systems.

For more information about MathStar Inc. (Minneapolis), visit the company's Web site at www.mathstar.com.

More in Business