As market demand increases for Elonics products, investors have contributed a further $1.1m to develop the sales and operational support infrastructure now required for its growing global customer base.  The top–up investment comes from the same investor group involved in Elonics series A funding round for £2.5m ($5m) in February and June 2008.  Key investors include Braveheart Investment Group, Scottish Venture Fund and a number of private investors.

David Srodzinski, Chief Executive of Elonics, said; “Early customer feed-back for our first product, the E4000 CMOS RF TV tuner device is very encouraging.  In response to demand, we have just opened our first office in Taiwan to service the Greater China Region.  With an experienced global team in place we are well-placed to capitalise on the growth of the RF markets. It is a privilege to have the continued support of our investors, especially in the current funding environment.  Their commitment reflects the strong position Elonics is now in to go forward and grow.”

Elonics, founded in 2003, has achieved a breakthrough in RF tuner technology, solving the perennial problem of combining high performance with low power and cost.  Elonics patented DigitalTuneTM radio tuner chip technology platform, designed in CMOS, significantly improves signal path management and can be easily configured to support worldwide industry standards and frequencies for a wide number of applications. Elonics latest RF tuner, the E4000 focuses on mobile phone and home consumer electronics markets where DigitalTuneTM is a key enabling technology for a new generation of TV receivers.

The market for flexible tuner chips for mobile devices and home consumer electronics is predicted to grow rapidly over the next few years.  Elonics has a comprehensive patent portfolio and a growing product range in development that places the company in a strong position to capitalise on future developments in this fast evolving field.

Commenting , Geoffrey Thomson, Chief Executive of Braveheart said, “Elonics has a differentiating product in terms of cost, power and performance, and one which has real potential to satisfy market need.  We are pleased to participate in this follow on round which will enable the company to further progress the E4000’s journey to market.”

About Elonics - “Wireless Silicon for a Digital Age”
Elonics Ltd. is a fabless mixed-signal semiconductor company specialising in the design and development of multi-band radio frequency (RF) IC products. Founded in 2003 and based in Livingston, United Kingdom, Elonics has developed an innovative radio frequency architecture called DigitalTune™ that is the foundation for a family of re-configurable CMOS RF front end products.

Elonics innovative technology allows manufacturers to design high performance multi-band radio transceivers with unrivalled power consumption and low system cost.  Elonics products are targeted at high volume portable consumer electronics applications that require wireless multi-media connectivity where size, performance, price and power consumption are paramount.  Elonics’ first product family is the E4000 series of silicon tuner solutions targeted at the reception of multi-standard digital TV and radio including DVB-T, ISDB-T, T-DMB, DVB-H, ISDB-H, DMB-T, DAB and FM radio. 

About DigitalTune™
Elonics DigitalTuneTM is a patent pending radio frequency architecture that enables the design of multi-band RF front ends using a single monolithic CMOS IC.  The digitally programmable multi-band architecture is used in the E4000 tuner family to cover the complete spectrum from VHF 2 to L Band (76MHz to 1.70GHz) for mobile broadcast applications.  DigitalTune™ is a universal architecture, and is capable of supporting other RF applications where re-configuration is highly desirable.

The direct conversion zero IF architecture is designed to save power and lower system cost.  It eliminates the requirement for expensive and bulky external components such as SAW filters and RF baluns, yet offers extremely high performance.  Elonics innovative DigitalTune™ architecture enables manufacturers to significantly improve upon today’s solutions offering support for multiple standards with a common re-configurable RF front end.

About Braveheart (www.braveheart-ventures.co.uk)
Braveheart Investment Group is a technology commercialisation and investment management company based in Perth, Scotland. Since its formation in 1997 it has made the transition from start-up angel syndicate to fully listed company. Braveheart’s shares listed on AIM in March 2007.

Investments are made in young, emerging, unlisted companies where there is potential for significant growth through successful commercialisation of IP and Braveheart enjoys close relationships with several universities to identify emerging technologies. Investments are predominantly technology-focused; however the Group also maintains limited exposure to more traditional businesses.

Braveheart’s diverse portfolio currently comprises over 30 companies and it has completed over 80 deals in its eleven year history, including six IPOs, three trade sales and eight write-offs and has an exit IRR of 33%.

At the 2008 Ernst & Young Entrepreneur of The Year Awards (Scotland) Braveheart CEO Geoffrey Thomson was given a special award recognising his contribution and support of emerging technology businesses in Scotland over the past decade.

About Scottish Venture Fund (www. Scottish-enterprise.com/equity)
The Scottish Venture Fund provides investments of up to £2m per transaction in partnership with the private sector on at least a matched funding basis in syndicated transactions, typically, between £2m and £10m.

About Scottish Enterprise (www.scottish-enterprise.com)
Scottish Enterprise is the main economic development agency for Scotland covering 93% of the population from Grampian to the Borders. The Scottish Enterprise Network consists of Scottish Enterprise and 12 Local Enterprise Companies. Working in partnership with the private and public sectors the Network aims to build more and better businesses, to develop the skills and the knowledge of the Scottish people, and to encourage innovation to make Scottish business internationally competitive.