MediaTek, Seiko Epson back MEMS timing startup Stathera
Stathera Inc. (Montreal, Quebec, Canada) a 2020 startup that provides MEMS timing solutions, has raised CA$15 million (about US$11 million) in Series A funding.
The investment in Stathera was co-led by BDC Capital and Celesta Capital, with additional participation from strategic investors including MediaTek, Seiko Epson, and TXC.
Stathera has been founded to benefit from the move from quartz-based timing to MEMS-based timing. The company makes use of MEMS made for it by fabless MEMS company NXTSENS Microsystems.
On its website the company claims it can provide a MEMS oscillator in a small footprint package, or as an embedded MEMS resonator.
By George
“Stathera’s technology introduces a new approach to integrating and manufacturing timing devices,” said George Xereas, Stathera’s CEO and co-founder, in a statement. Xereas is also CTO at NXTSENS Microsystems
“We are excited to be the only company with state-of-the-art dual-mode frequency technology, which has the potential to re-architect the entire $9.4 billion electronics timing industry,” he added.
As an major part of the company’s business strategy Strathera is developing strategic partnerships with companies who will help enable global distribution of their products. Stathera has entered into a commercial collaboration agreement with South Korean conglomerate, Doosan. The company is also pursuing partnerships with semiconductor industry leader MediaTek, as well as quartz timing leader TXC.
The company said it would use the money from the Series A funding round to commercialize its dual-mode MEMS timing product line and increase production capacity to meet anticipated demand. In parallel, Stathera said plans to develop a second generation of MEMS timing that would bring an order of magnitude improvement 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.
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