Pharrowtech raises €6m seed funding
Pharrowtech, the designer of chip and antenna solutions for wireless applications, has raised €6 million in seed funding.
The imec spin-out plans to use the funds to enhance its products and speed up production aimed at fixed wireless access, 5G and AR/VR.
The round was led by imec.xpand and Bloc Ventures with participation from imec and KBC.
Pharrowtech also announced that Pieter Vorenkamp, former SVP at Broadcom and Cadence, has joined as independent chairman of the new board to accelerate their upcoming growth phase.
“In early 2018 we identified the emerging millimeter-wave business opportunity with a leading operator and telco equipment vendor,” said Wim Van Thillo, Pharrowtech CEO and co-founder.
“During the past year, the team has been focused on taking the widely-recognized IP developed at imec with contributions from Vrije Universiteit Brussel (VUB) from development prototype into Fixed Wireless Access system demonstrator.
“Today, we are adding senior industry leadership and significant investment by Europe’s prominent early stage tech investors and industry veterans in hardware, semiconductors and telecom, which validates our approach and our technology.
“We are now ready for this next growth phase and look forward to working together with our new partners.”
Pharrowtech has been spun out of imec, a research and innovation hub in nanoelectronics and digital technologies.
Vorenkamp said: “This is an exciting time to be joining such a young and innovative team, and at such an early stage with such a significant level of backing.
“My 18 years at Broadcom provide me a unique insight into what’s required to outperform incumbent players and I’m confident we will achieve this with the Pharrowtech team.”
David Leftley, co-founder and CTO of Bloc Ventures added: “We believe Pharrowtech, with a world leading RF semiconductor team, is uniquely positioned to succeed in the millimetre wave space – a key area of growth for the sector in the coming years.
“Bloc is delighted to add Pharrowtech to its investments, especially as this is the first investment we have made outside the United Kingdom, and we look forward to collaborating with them to make their dreams a reality.”