Austin company positioned for increased market share with new Wi-Fi chip

Jul 18, 2014
Austin Business Journal

Nitero Inc., an Austin semiconductor design company, is positioning itself for a boost in business in the wake of a key rival being acquired by a tech giant and after completing development of its Wi-Fi chip


Earlier this month, California-based Qualcomm Inc. (Nasdaq: QCOM) bought Israel-based competitor and chipmaker Wilocity Ltd. for more than $300 million. And this week Nitero released its latest Wi-Fi chip that the company promotes as being 10-times more power efficient that previous chips. The two events have poised Nitero for growth, CEO Pat Kelly said Thursday


Nitero, founded in 2009 at the Austin Technology Incubator, is developing a Wi-Fi system for mobile platforms. The company, which also operates a design center in Australia, employs 50 workers, 25 of whom are based at the company’s downtown Austin headquarters, Kelly said


In August 2012, Nitero disclosed that it had begun demonstrating its product to selected customers and attracted a Dallas-based venture capital firm as a new investor. It came one month after the company received $1.5 million of a planned $3.1 million financing from three investors, according to a filing with the U.S. Securities and Exchange Commission


Investors include Dallas-based Trailblazer Capital, California-based Southern Cross Venture Partners and Austin Ventures LP, company officials said


Nitero’s more powerful chips are designed to enable users to do things on their smartphones that were previously done on other digital devices. The goal is converge most devices into one, Kelly said


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