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Announced

Completed

Qualcomm Ventures led a $100m Series C funding round in Frore Systems.

Financials

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Transaction Value£74m
Consideration TypeCash
Capital Owned-
Capital Bid For-
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Sources

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Tags

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Private

Electronic Components and Equipment

Private Equity

Completed

Venture Capital

United States

Friendly

electronic equipment

Minority

engineering company

Acquisition

Cross Border

Synopsis

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Qualcomm Ventures, Qualcomm’s venture arm, led a $100m Series C funding round in Frore Systems, an operator of an engineering company intended to offer flexible microelectromechanical systems, with participation from Mayfield, Addition and Clear Ventures. “The pandemic has increased the value proposition for AirJet. The world has become increasingly mobile and reliant on devices to stay connected in both the workplace and at home. We do not anticipate the broader slowdown in tech will adversely impact Frore. Even if demand for consumer devices slows, in a market where manufacturers are fiercely competing for the consumer spending and market share, the ability to differentiate their devices by offering superior processor performance will ensure demand for the AirJet product. This is being reflected in customer interest in and demand for AirJet," Seshagiri Madhavapeddy, Frore Systems Co-Founder and CEO.

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