This translation has been automatically generated and has not been verified for accuracy.A Toronto startup that has rapidly emerged as a critical technology supplier to global semiconductor makers has filed to go public on the London Stock Exchange, sporting a “unicorn”-sized valuation into the billions of dollars.
Alphaware’s specialty is building IP that enables chips to handle faster and more reliable data transmission while using less power. It’s a critical feature for chip makers as data communication surges globally, thanks to a proliferation of data centres, advanced 5G wireless infrastructure and connected automobiles.
Alphaware has just 14 customers, but its revenue soared to $44.2-million last year from $9.3-million in 2019. Alphaware landed US$75-million worth of contracts in 2020, up from US$27.2-million the year before and $9.6-million in 2018 and 2017 combined. In this year’s first quarter, it booked another US$82.2-million.
Alphawave, which estimates the size of the market it now serves will triple to US$1.5-billion from US$500-million last year, acknowledges in its listing document it faces significant risks, including intense competition that could cut into the licensing and royalty fees that drive its business.
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