Pharrowtech raises €15 million for wireless optical fibre alternative
Pharrowtech has closed a €15 million Series A funding round to continue to support the development of 60GHz wireless RF transceivers and antenna technology.
This investment round was led by Innovation Industries and joined by Seed Round investors imec.xpand, Bloc Ventures, and KBC Focus Fund.
“This year has started on a great note for Pharrowtech and this investment is another significant milestone in our journey. Despite the challenges brought by a global pandemic, Pharrowtech was able to move rapidly from imec R&D Prototypes in 2019 to scaling up production of an exceptionally advanced 60 GHz RF solution by 2022," said Wim Van Thillo, CEO and co-founder, Pharrowtech.
Pharrowtech says it will use the funds to accelerate deployment of its 60GHz CMOS Radio-Frequency Integrated Circuit (RFIC) PTR1060, and phased array antenna Radio-Frequency Module (RFM) PTM1060 for 5G unlicensed fixed wireless access, wireless infrastructure, and consumer applications.
Specifically, the capital will be used to bolster customer support, expand Pharrowtech’s operations in the US, and grow its engineering and business teams.
"Pharrowtech leads the way in enabling the next generation of connectivity with its cutting-edge technology and products," said Sander Verbrugge, partner at Innovation Industries.
"Connectivity and high bandwidth fuel innovation and are essential to modern society. We are proud to be part of this journey and to support this world-class team in achieving its global ambitions.”
Pharrowtech solutions deliver gigabit-per-second speeds to consumers and businesses wirelessly, it also designs sub-systems for 60GHz licence-free operations.
Building on imec’s R&D and prototypes, Pharrowtech recently announced the availability of the PTR1060, the world’s first IEEE 802.11ay-compliant CMOS RF chip for indoor and outdoor wireless use cases that supports the full 57 to 71GHz bandwidth.
“Pharrowtech is at the forefront of this revolution, improving bandwidth connectivity for all stakeholders," said David Leftley, CTO, Bloc Ventures.
"The team's latest innovations are a testament to their expertise, execution and commitment, and we are delighted to support them in their future endeavours.”
It also launched PTM1060 (RFM) phased array antenna modules to provide OEM/ODMs with a ready-to-use 60GHz solution.
Both products are currently available to select customers with plans to ramp up the production in the third quarter of 2022.
“Pharrowtech is a prime example of how a product focused imec spin-off can accelerate the introduction of advanced technologies into the marketplace," added Peter Vanbekbergen, partner at imec.xpand.
"This investment supports this accelerated market introduction and will in addition strengthen the strategic positioning of Pharrowtech in the wireless eco-system."
The news comes amid the growing fibre shortage that is directly impacting the progress of global telecoms projects. Capacity explored this subject at length in a feature at this year's ITW 2022 conference.
“Pharrowtech’s industry leading technology will change the current trajectory of the wireless ecosystem and we are proud to have partnered with them from the start and continue supporting their growth journey,” adds Rudi Severijns, investment director, KBC Focus Fund.