Cambridge Silicon Radio, the UK-based Bluetooth chipmaker, said Monday that it will need more cash by the end of next year.
The company, which is the world's leading Bluetooth chipmaker with 49 percent market share, said the US$65 million it has raised over three rounds of financing will run out as demand for the short-range radio chips accelerates next year.
"We need money for working capital. I'm sure we'll need additional funding before the end of 2002. Fortunately we don't have to raise it now," said CEO John Hodgson, referring to the current lowly valuation of technology stocks.
US-based researcher Cahners In-Stat Group has estimated that millions of Bluetooth radio chips will be in use next year. Bluetooth technology allows electronic devices such as mobile phones, headsets, printers, handheld computers and laptops within 30 feet of one another to communicate without wires.
