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SkyCross Receives $14 Million Investment Led by TL Ventures

SkyCross Receives $14 Million Investment Led by TL Ventures

MELBOURNE, Fla., Jan. 3 /PRNewswire/ -- SkyCross, a leading developer of advanced wireless antenna solutions, today announced the closure of a $14 million round of financing led by TL Ventures. TL Ventures is an esteemed investment firm engaged in venture capital for more than 17 years with over $1.4 billion under management focusing on communications, IT and semiconductors. The investment will provide capital to fuel continued growth at Skycross.

This investment reinforces a string of SkyCross design successes in the wireless marketplace, including numerous embedded antennas for handsets and PC data cards, as well as for mobile video devices. The company will use the funding to accelerate the growth of its design and production capabilities while continuing to expand in global markets.

"We are delighted to be endorsed by an investor of this stature. TL Ventures' participation validates our traction with leading customers in the exploding wireless mobile device industry and our prospects for future growth," said Dr. Chris Morton, CEO of SkyCross. "It has been a pleasure to engage the talented team at TL Ventures."

"SkyCross is poised for continued success with a strong management team, considerable market footprint, and solid intellectual property," said Michael Burns, managing director at TL Ventures. "We are pleased to invest in a company that has demonstrated the significant progress that SkyCross has. We look forward to helping the company realize its full potential."

About TL Ventures

TL Ventures ( http://www.tlventures.com/ ), established in 1988, has over $1.4 billion under management and is currently making new investments from its sixth fund, TL Ventures V, which has $686 million in committed capital. Focused on venture investing in category-defining, early-stage companies in information technology, communications and biotechnology, the Firm provides portfolio companies with operational, entrepreneurial and financial expertise and a global network of resources and contacts. TL Ventures has offices in Philadelphia, Austin and Silicon Valley.

About SkyCross

SkyCross is a leading developer of next-generation RF technology for mobile and fixed wireless telecommunications and mobile computing markets. SkyCross' antenna solutions are based on several unique and patented antenna technologies and designs that allow its engineers to deliver high performance, multi-mode, multi-frequency antennas that can be hidden inside a mobile casing, have a very low radiation profile, and offer much better gain characteristics over existing solutions. Typical applications for the antennas include mobile handsets, laptop computers, PC cards, access points, and household electronics. For details, please visit http://www.skycross.com/ .

SkyCross

CONTACT: Sara Zavala, Edelman, +1-321-722-9788, or
Sara.Zavala@edelman.com, for SkyCross

Web site: http://www.skycross.com/
http://www.tlventures.com/

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