RadioScape Announces $22 Million in Funding; Royal Bank Ventures Leads Major Financing Round.

Business/Technology Editors

LONDON & REDWOOD CITY, Calif.--(BUSINESS WIRE)--Dec. 10, 2001

RadioScape Limited, a leading developer of semiconductor intellectual property for the wireless and digital communications markets, announced

today $22 million in funding led by Royal Bank Ventures (RBV), the technology venture capital fund of The Royal Bank of Scotland. Other participants in the funding round include new investor Scottish Equity Partners, and existing investors Atlas Venture and Texas Instruments Incorporated. These investments enable RadioScape to further its global growth and expansion in international markets.

The investors were attracted by the potential of RadioScape's Communication Virtual Machine(TM) (CVM(R)) technology, the company's core product for the rapid development and deployment of complex wireless standards such as 3G. The CVM, licensable embedded runtime software for wireless systems, enables developers and semiconductor manufacturers to simplify the development of their 2G, 2.5G, 3G and other wireless products with "right-first-time" design technology. The CVM materially increases design success and reduces time-to-market for multimode and complex communications devices.

RadioScape's CVM has been adopted by major players in the semiconductor market, which are developing new wireless communications systems. These systems require innovative yet increasingly complex parallel hardware architectures for baseband processing, with competing engineering requirements on system performance, power and cost to support highly sophisticated software. With the CVM's unique combination of software runtime and design tools, wireless developers can validate their designs before committing to silicon and software, achieving faster development times with fewer errors.

Gavin Petken, investment director at Royal Bank Ventures said, "RadioScape's technology addresses a fundamental problem faced by many semiconductor manufacturers and developers who need to rapidly enhance the power and complexity of their wireless solutions to meet market demand. The company's leading position in Digital Audio Broadcast intellectual property has already demonstrated how its innovative CVM technology can facilitate the rapid delivery of wireless solutions into new markets. This was an opportunity to invest alongside important follow-on investors such as Texas Instruments in a company with genuine growth potential in a rapidly expanding sector."