Nitero, founded in 2011, also announced that Trailblazer Capital has joined Southern Cross Venture Partners and Austin Ventures in the latest round of funding. It is reported that Nitero raised $3.1 million in the latest round.
The company is developing chips that can operate at multi-gigabit rates over distances of a few meters or less. This is expected to be fundamental to a market for docking stations, computer displays and other peripheral devices that will then be able to stream video wirelessly.
Nitero has design teams in Austin and near Melbourne, Australia, having spun out of National ICT Australia (NICTA) research institute which has five locations across Australia and a long history of 60-GHz research. Nitero is set to compete with other companies in 60-GHz communications including Amimon Ltd., Silicon Image, Quantenna, Beam Networks Ltd., Blu-Wireless Technology Ltd., Peraso Technologies Inc. and Tensorcom.
"The team has executed upon demanding development plans in a timely and capital efficient manner. We're excited to lead this next round of financing and provide incremental industry know-how and capital to accelerate Nitero's plans," said George Barber, venture partner at Trailblazer, in a statement issued by Nitero.