March 29, 2004

WiDeFi Secures $6.8 Million in Venture Capital


The Aurora Funds and Axiom Venture Partners co-led a Series A investment in WiDeFi, Inc., a Florida-based company with innovative and proprietary wireless chip technologies for the growing 802.11 and 802.16 markets

Satellite Beach, FL (March 29, 2004) WiDeFi, Inc., a fabless provider of semiconductor chips used to dramatically increase the range of Wi-Fi networks, announced today that it recently closed a Series A financing round of approximately $6.8 million dollars. The funding was co-led by The Aurora Funds of Durham, North Carolina and Axiom Venture Partners of Hartford, Connecticut. The financing also included Grace Venture Partners and funds managed by Silicon Valley veteran venture investor Bill Draper of Draper Richards/Draper Associates. Previous investors The Inflexion Fund, Camp Ventures, and the Band of Angels completed the round.

“We are particularly pleased to have the combination of investment from Aurora and Axiom with their direct involvement on WiDeFi’s Board of Directors,” remarked Jim Proctor, President and CEO of WiDeFi. “Further, winning the confidence of a legendary venture capitalist such as Bill Draper attests to the accomplishments of the WiDeFi team to date. We’ve been able to attract such an impressive group of investors because WiDeFi has invented a new platform technology. This platform can be adapted to many different wireless systems, and has the capability to fundamentally change the way people use wireless networks. Our first chip set will provide Wi-Fi systems with full coverage throughout the home to allow new applications such as voice and video over Wi-Fi. The technology will allow wireless Internet access at over ten times the speeds possible today in many situations. Additionally, our technology is applicable to the emerging Wi-Max (802.16) standard.”

Rich Brown, a new WiDeFi Director and General Partner of The Aurora Funds said: “We are very excited by WiDeFi’s prospects. Their platform technology is an enhancement to the rapidly growing wireless LAN installed base and solves the usability and coverage problems experienced with this equipment. The impact WiDeFi’s technology will have on the wireless market place will make for a valuable company.”

Marc Fogassa, a new WiDeFi Director and Principal with Axiom Venture Partners stated: “WiDeFi is the type of deal that I like to fund and be involved with. It has the capability to deliver a strong product to the growing Wi-Fi market and create a valuable company in the near term. The unique technology can also be used to provide products in many other wireless markets in the longer term, providing for sustained growth and value.”

Recent market research reports estimate as many as 50 million homes worldwide will be enabled with Wi-Fi networks by the end of 2007. “The combination of continuing coverage problems and accelerating growth of Wi-Fi equipment provides for an exciting opportunity for WiDeFi,” remarked Dr. Kevin Negus, board member and previous CTO of leading Wi-Fi equipment provider, Proxim. “Our unique technology offers some real benefits to consumers. It’s as easy to use as plugging in a nightlight.”

About WiDeFi, Inc.
WiDeFi is a wireless technology development company that provides solutions, which make existing wireless products work even better. WiDeFi’s innovations enable enhancements in range, performance, quality of service (QoS), capacity and security for wireless networks. WiDeFi’s leading Xtender™ product doubles the range at twice the performance and half the cost of competing solutions in wireless local area networks. For more information on WiDeFi, Inc., visit the company website at

About The Aurora Funds
The Aurora Funds is a venture capital firm that provides capital, connections and strategic help to entrepreneurs with early stage life science and information technology companies, primarily in the Southeastern and Mid-Atlantic United States. Aurora typically invests in seed and first round financing opportunities. The firm has more than $155 million of total capital under management and is currently investing out of its fourth fund of $85 million. More information is available at

About Axiom Venture Partners
Axiom Venture Partners is a venture capital firm with approximately $220M under management and currently deploying its third fund. Based in Hartford, Connecticut, and founded in 1994, it has a limited partner base encompassing large insurance companies and banks, as well as some high net worth individuals and families. Axiom invests in both Information Technology and Biotechnology. For more information, visit

For more information contact:
Lynn Van Wyk
WiDeFi, Inc.