Metanoia Announces the Closing of a $19.3M New Round of Funding and Its Entry Into the 5G Market
Metanoia Communications Inc. (Metanoia), a leading manufacturer of standalone high-speed xDSL and Gfast PHY chipsets for the wireline broadband market, is excited to announce that it has successfully completed its most significant fundraising in the history of the company from a stellar consortium of domestic investors led by Taiwania Capital Investment and National Development Fund. Elan Microelectronics, the original primary investor in Metanoia, is also participating in this new round of investment.
“Introduction of new and innovative products is a key area of focus in Metanoia’s strategy and this new round of investment will enable Metanoia to develop and release 5G chips for Remote Radio Units (RRU), Small Cells and CPEs in near future,” said Chien-Te Wu, Metanoia President & CEO. “The company will further capitalize on and broaden its established position as a recognized leader in the Broadband Wireline markets, where our employees are striving to enhance the overall customer experience, while deepening relationships with existing and new customers.”
Taiwania Capital CEO David Weng added: “Taiwania Capital Investment is very excited about investing in Metanoia as it embarks on a new journey with its strategic decision to diversify into the 5G market with the introduction of exciting new products with significant potential and market prospects.”
The funding will also be used to support the launch of Metanoia’s new Gfast / VDSL2 family of chipsets and is also expected to drive further international adoption and expansion.
5G solutions are rapidly moving beyond just providing indoor coverage within buildings or arenas, and are becoming strategic enablers of outdoor network densification for Services Providers and will be the key components in strengthening the Service Providers’ 5G deployments. Building chips that can serve both RRU and Small Cell markets as well as the CPE is an important element of Metanoia’s product strategy to meet these requirements.
“By developing our innovative and highly programmable architecture for our Broadband Wireline products, and by leveraging our partners’ knowledge in 5G technology, Metanoia quickly realized that it could adapt and use existing technology and apply it to certain 5G market segments,” added Didier Boivin, Metanoia executive vice president. “While the medium is different than what Metanoia has previously served, (wireless vs. wireline), there are significant overlaps at the physical layer (PHY) enabling Metanoia to leverage its existing technology and quickly come up with new 5G products and enable our current and future customers to meet the market requirements.”
“Taiwan is embarking on a strategy and plan for deploying 5G in both public and private enterprise networks in 2020. Key goals in Taiwan’s 5G program include providing end-end solutions in enterprise network for vertical applications and obtaining significant market shares for 5G related products,” said Dr. Li Fung Chang, CTO, 5G Technology Program Office, Ministry of Economic Affairs(MoEA). “To achieve these goals, it is counting on its domestic enterprises to contribute to the success of the program. Several companies are already enlisted from server companies to chipset companies like Metanoia. Upcoming new 5G products from Metanoia will bring the flexibility needed to implement features which could be helpful in quickly adapting to the changing market requirements and thereby creating lasting differentiators to the market.”
Metanoia will next participate at COMPUTEX 40th in Taipei, Taiwan from June 2nd to June 6th 2020.
Please come to visit us.
About Metanoia Communications, Inc.
Metanoia Communications, a subsidiary of Elan Microelectronics, was established in Hsinchu Science Park, Taiwan. Since its inception, Metanoia has been contributing to the development of several generations of semiconductor and software solutions for the wireline Broadband and the in-home networking markets, delivering to broadband manufacturers very high-speed PHY devices with reliable and superior performances.
For more information about Metanoia, please visit our website at www.metanoia-comm.com .
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