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Irvine's Cosemi Raises $8M in Strategic Funding Round

Cosemi Secures $8M in Strategic Funding Round

Led by Technology and Solutions Partner Nitto Denko Corporation, Investment Underscores Continued Growth Trajectory

CosemiCosemi Technologies Inc., a global leader in innovative, high-speed connectivity solutions, today announced that it has closed an $8 million strategic funding round, led by Nitto Denko Corporation (OTCMKTS: NDEKY), an Osaka-based diversified materials manufacturer and Cosemi technology and solutions partner. The investment will be used to accelerate Cosemi’s growth and address the broad, growing market opportunity for its high-speed, hybrid active optical interconnect solutions.

Cosemi designs and develops high-volume, high-performance, plug-and-play HDMI, DisplayPort and USB active optical cables (AOCs) that provide the performance and speed of fiber optics, along with the legacy support of control and power delivery over copper wire, in cost-effective hybrid cable assemblies. Cosemi is a pioneer in the development of hybrid active cables that are suited for many market segments including 4K/8K displays, video collaboration platforms, machine vision, universal personal computing connectivity for enterprise and work-from-home applications, automotive, AR/VR, e-sport gaming and entertainment. 

According to Nitto, “Cosemi’s broad IP and patent portfolio in hybrid AOCs and physical layer IC electronics make them an appropriate and particularly attractive partner to Nitto’s broad passive optical technology base. We look forward to joining with Cosemi and accelerating its mission to enable optical connectivity everywhere.”

“In Nitto, we have found not only a strong financial partner but an equally strong technology partner,” said Cosemi president and CEO Dr. Nguyen X. Nguyen. “We have also signed a joint development agreement for future generations of interconnect solutions that will feature technologies contributed by both Nitto and Cosemi. The first of these solutions will be available as early as the second half of 2021.”

About Nitto Denko Corporation

Nitto Denko Corporation is a global pioneer of state-of-the-art technology and Japan’s highly functional materials manufacturer. The company offers high-value-added products coming from its wide spectrum of technologies such as polarizing films which are indispensable for screen displays of smartphones and TVs, industrial adhesive tapes, automobile parts, and medical supplies. Nitto, as a manufacturer striving to shape the future through technology, will continue to contribute to the realization of a better society and the environment through development of new products and applications. For more information, please visit https://www.nitto.com/us/en/.

About Cosemi Technologies

A global leader in innovative high-speed connectivity solutionsCosemi Technologies Inc. is focused on enabling optical connectivity everywhere. Cosemi designs and manufactures active optical cables for infrastructures supporting today’s unprecedented data growth. The company offers a comprehensive portfolio of quality solutions that service the data center, home entertainment and consumer electronics markets. Cosemi proudly maintains a strong patent portfolio on its innovative AOCs. To learn more about Cosemi, please visit www.cosemi.com or follow the company on LinkedIn and Twitter.

Media Contact:

Stephanie Olsen
Lages & Associates
(949) 453-8080
stephanie@lages.com

SOURCE: https://www.globenewswire.com/news-release/2020/12/15/2145548/0/en/Cosemi-Secures-8M-in-Strategic-Funding-Round.html

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