The semiconductor startup is awarded €2.5 million in grant and €5 million in equity investment to secure leadership in innovative chips for Wi-Fi 8 and beyond.

LEUVEN, BELGIUM, July 24, 2024 /EINPresswire.com/ -- Pharrowtech, a leading semiconductor provider for wireless communications, announced today that it has been awarded a prestigious grant from the European Innovation Council (EIC) Accelerator programme. The EIC Accelerator Grant has awarded Pharrowtech €2.5 million in non-dilutive funding and €5 million in equity investment to accelerate the development and commercialization of its next-generation Wi-Fi technology.

Wi-Fi is estimated to carry more than two thirds of all wireless data globally, and demand continues to skyrocket. Pharrowtech's solutions leverage very high frequencies in the 60 GHz band to deliver a unique combination of ultra-fast wireless speeds exceeding several gigabits-per-second (Gbps) at low-latency and high reliability. This millimeter-wave (mmWave) technology will allow Wi-Fi to keep up with the continued explosive data consumption growth in Wi-Fi 8 and beyond, which is expected to be specified as IEEE 802.11bq. The 14 GHz of unlicensed spectrum and the wide number of non-overlapping channels available in the 60 GHz band will enable a seamless wireless experience for any throughput-hungry application such as high-resolution displays, virtual and augmented reality, smart cities, autonomous mobility applications, and industrial automation.

"We are thrilled and honoured to receive this recognition and support from the EIC Accelerator. Global Wi-Fi semiconductor sales are forecasted to exceed $20 billion by 2026. This additional financing enables us to serve this market faster and more effectively. We are grateful to the EIC for this support and to Zaz Ventures for their help in securing it," said Wim Van Thillo, co-founder and CEO of Pharrowtech.

“During its meeting in Montreal on July 17, 2024, the IEEE 802.11 Working Group passed a motion to create a new Task Group, IEEE 802.11bq, that will specify the inclusion of 60 GHz band support into mainstream Wi-Fi. The timing coincides perfectly with the award of this EIC grant. It will enable us to secure global leadership in next-generation Wi-Fi technology,” said Micky Mehta, VP of Digital Systems and Software Engineering at Pharrowtech.

For more information, visit https://eic.ec.europa.eu/eic-funding-opportunities/eic-accelerator_en.

About Pharrowtech

Pharrowtech develops semiconductor chips, antennas, and software solutions that enable super high-speed, low latency wireless communications for fast growing markets including broadband fixed wireless access (FWA), 5G, high-performance Wi-Fi, wireless HDMI, AR/VR headsets, and smart city applications.

For more information, go to www.pharrowtech.com or contact info@pharrowtech.com .

About EIC Accelerator

The EIC Accelerator is a funding scheme from the European Commission that supports high-risk, high-potential small and medium-sized enterprises (SMEs) with funding and coaching to scale up and grow their businesses. The EIC Accelerator offers grants of up to €2.5 million and equity investments of up to €15 million to SMEs that have a clear vision, a strong team, and a breakthrough innovation that can create new markets or transform existing ones. The EIC Accelerator is part of the Horizon Europe programme, the EU's flagship initiative for research and innovation.

Roberto Guglielmi
Pharrowtech Marketing
marketing@pharrowtech.com
Visit us on social media:
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.