Smart-Antenna Specialist Pinyon Technologies
Closes $1.2 Million Series A Financing
Pinyon completes its Series A financing with $1.2 million from investors;
expands its board of directors; secures Tier 1 OEM win with customized
high-gain, low-cost antenna.
Reno, NV (PRWEB) November 8, 2007 -- Pinyon Technologies, a developer of smart
antenna solutions, announced that it closed its Series A financing round,
securing $1.2 million in investments.
George Lauro, Founding Partner of Alteon Capital Partners, a
Silicon-Valley-based venture capital fund and advisory firm, is the only
disclosed investor and will join Pinyon's Board of Directors as part of the
financing. Pinyon will use the Series A capital to fund product-line growth, and
is expected to raise additional capital soon.
"The Series A financing will enable Pinyon to execute on several projects with
large customers and bring Pinyon's revolutionary antenna solutions to commercial
fruition across an array of high volume wireless products," said Debashis
Bagchi, Pinyon's chief executive officer.
"Alteon is delighted to have
invested in Pinyon and for the opportunity to work with Debashis and his team,"
said Alteon Capital's George Lauro. "This is an exciting time at Pinyon. Their
antenna solutions are demonstrating extraordinary performance and the company is
getting significant commercial traction with some of the largest companies in
the wireless sector."
Pinyon is now sampling their unique patented antenna solutions to a number of
customers including Tier 1 Product OEMs and ODMs for use in WiFi, WiMax, and
Bluetooth devices, and soon for both 3G and 4G mobile phones. Pinyon has
recently received high praise from Siemens Home and Office Communication Devices
who has extensively tested Pinyon's antennas for use in their wireless products.
About Pinyon Technologies, Inc.
Pinyon Technologies, based in Reno, Nevada, has developed a low-cost, high-gain,
steerable antenna for WiFi, WiMax, Bluetooth, and mobile applications. The
proprietary design is based on a current-driven, magnetically coupled resonant
slot technology. Multi-slot phased-array algorithms provide 360° steering to
maximize radio range and performance. WiFi versions of Pinyon's antenna deliver
gains of up to 13 dBi versus 2 dBi for traditional WiFi access point/router
antennas. This performance more than doubles Pinyon's antenna range and
throughput over that of conventional antennas, at very little additional cost.
The antennas also have numerous applications in GPS, RFID, military, marine, and
automotive radio. For more information, visit www.pinyontech.com.
About Alteon Capital Partners, LLC
Based in Silicon Valley, Alteon Capital Partners provides venture capital
advisory, corporate development, and seed financing to companies commercializing
leading-edge technologies. For more information, visit www.alteoncapital.com.
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Contact: Alteon Capital Partners
George Lauro, 408-868-0379
george.lauro@alteoncapital.com
Contact: Pinyon Technologies
Debashis Bagchi,
775-786-6003
dbagchi@prodigy.net
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