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VCs Chip in $15.6 Million for GCD

The North Andover, Mass., maker of chips for wireless networking products banks second-round financing for product development and to add staff and space.

October 15, 2001
By boston.internet.com Staff: More stories by this author:

Global Communication Devices (GCD), a North Andover, Mass., maker of chips for wireless networking products, has raised $15.6 million in second-round financing for product development and adding staff and space.

The startup produces general-purpose, highly integrated transceiver chips for local area, wide area, and personal area networks. Initial products support industry standards such as IEEE 802.11a, b, and g standards as well as Bluetooth and HomeRF.

"As . . . people communicate with one another from locations outside their offices, they rely on wireless transport for their reach," said Geoffrey C. Dawe, GCD's president and CEO. "Small offices and home offices are becoming increasingly dependent on the ability to conduct business outside of the traditional office setting, yet the costs of equipment can be prohibitive. We are focused on lowering these costs through innovative chip design."

Lead backer was Walden International Investment Group. Lucent Venture Partners, Goldman Sachs, The Still River Fund, and The Massachusetts Technology Development Corporation also participating.

"The company has made great strides toward becoming a leader in the wireless market with its low cost, but highly reliable, integrated transceiver chip set," said Danial Faizullabhoy of Walden International Investment Group.

Privately held GCD recently moved into new offices, that includes 17,000 square feet of office and lab space, and will accommodate a growing staff.






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