Investors add funds to powerline comms startup

SiConnect has secured a further investment of GBP 1.3 million from existing investor partners, Dow Chemical Company, Prelude Trust and TTP Ventures.

SiConnect has secured a further investment of GBP 1.3 million from existing investor partners, Dow Chemical Company, Prelude Trust and TTP Ventures.

The investment is the second tranche of a GBP 2.8 million first funding round launched in May 2005.

SiConnect, based in Swindon, is a fabless semiconductor company developing powerline communications (PLC) technology for multimedia home networking applications.

Its silicon and software products will enable everyday consumer electronic devices to use existing domestic electrical wiring to transport audio, video, voice and IP data throughout the home.

Trevor Sokell, CEO of SiConnect, commented: "The investment highlights the confidence and satisfaction our backers have in SiConnect powerline technology".

"The continued support of our investors is highly valued".

"Not only do they provide us with crucial financial backing, but the advisory role they play is also very important to us as a startup company".

Russell Haggar of Prelude Ventures added: "Prelude is delighted to continue to support SiConnect in this latest investment".

"The team has created an industry-leading technology and we are confident of the global growth potential of the sector".

"This further investment enables the company to commercialise its innovative semiconductor technology".

Working in partnership with the world's blue chip telecommunication operators, cable companies and consumer electronics manufacturers, SiConnect is creating new benchmarks for PLC technology that achieve the required capacity, reliability, ease of use and cost point goals.

To date, more than 150 man-years have been invested in the company's PLC technology.

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