Samsung Electronics acquires VC-backed Nanoradio

Previous funding
Nordic Venture Partners initially led a €9m series-A round in 2005, including Teknoinvest, Industrifonden and Innovacom. In 2007, Ferd Venture joined the consortium, investing €10m as part of a €20m round with previous investors. Creandum and Viking Venture joined existing shareholders for a €12.5m financing round in 2009.

Company
Nanoradio, founded in 2004, designs wireless semiconductors for the cellular and handheld market, balancing factors like power consumption, size and cost. All manufacturing is outsourced.

Headquartered in Kista, Sweden, with sales offices in Korea, China, Japan and the US, the company employs 60 staff and generated a SEK 72m revenue in 2010.

People
Managing partner Henrik Albertsen worked on the deal for Nordic Venture Partners, general partner Martin Hauge for Creandum, partner Pål M Rødseth for Ferd Venture, partner Eivind Bergsmyr for Viking Venture and investment manager Dan Ekelund for Industrifonden. Keith Cornell is CEO of Nanoradio.

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