Irvine-based chip startup WiSpry Inc., which makes chips for cell phones, said Tuesday it added another $10 million to its third round of venture funding for a total of $20 million.
WiSpry, one of Orange County? best-funded startups, has raised nearly $50 million to date.
It makes moving microscopic machines that are thousandths of an inch in size and puts them on chips. The chips make a phone? signal to cell towers more efficient, allow for fewer dropped calls and lengthen battery life up to 30%.
The latest round was led by new investors Chart Venture Partners and Acadia Woods Partners.
Ted Hobart of Chart Venture gained a seat on WiSpry? board.
The company, which has more than 30 workers here, is currently on the hunt for two additional independent board members.
Investors in the first part of the round included Washington, D.C.-based Paladin Capital Group and Japan? MuRata Manufacturing Co., a maker of ceramic capacitors that go into cell phones, medical devices, computers and other consumer electronics.
WiSpry? earlier investors include Sacramento? American River Ventures, San Francisco? Blueprint Ventures, San Diego? Shepherd Ventures and New York? L Capital Partners.
The funds are set to help expand the company? operations, engineering and support group as WiSpry begins product shipments this summer.
Last year, closely held WiSpry said it had landed a design win with one of the big three cell phone makers?ut wouldn? say which one.
?e are positioned now to really start growing this thing,?said Chief Executive Russell Garcia at the time. ?e?e got the technology wired and solid, we?e got funding in place and a customer champing at the bit to get the product qualified and ready to go.?p>Garcia estimates that the latest round should ?ake us to the breakeven point,?he said.
WiSpry is aiming for profitability during the second half of next year.
The company was formed in 2002 when it split from the radio frequency and wireless business unit of Austin, Texas-based Coventor Inc.
It didn? get off the ground until 2004 with a million dollars in seed money from Tech Coast Angels, a loose group of Southern California investors.
