- 12 July 2005 -

Z-Wave funding

Zensys, the American-Danish provider of system-on-chips for wireless home automation. has closed $16m in Series C funding led by Bessemer Venture Partners and including Zensys’ first-round venture capital allies, Palamon Capital Partners, and Vaekstfonden, the Danish growth fund.

“This third round of funding is a strong statement about the confidence investors have in our product, vision and team and a validation of the success we have achieved to date,” said Per Nathanaelson, Zensys’ President and CEO.

“This new funding will enable us to further expand our leadership role and provide our partners with the tools to bring reliable and affordable home control solutions to the mass market“.

The funding will be used for continued R&D efforts, to drive consumer awareness for Z-Wave interoperability and to solidify Zensys’ position in the home control market by allowing the company to acquire new partners and investigate new applications, Zensys said.

The fabless company is about to start into mass production for its second-generation chip ZWave, which it outsources to chip foundry Taiwan
Semiconductor Manufacturing, which is deliveing more than 200,000 chips for Zensys.

The company's first-generation Z-Wavechip,went into mass production in fall 2002, are used in home systems such as remotely controlled lighting and security.

Web:http://www.zen-sys.com