Business Plans

FeRmi
2007
April V1.1

FeRmi

by Swee Yong Khim

E: sweeyk@ime.a-star.edu.sg

Overview
Business Proposition / Mission / Value
FeRmi is a fabless semiconductor company providing integrated RF reader ICs and
reference solutions for low cost mobile RFID systems. FeRmi uses standard CMOS
technology in their designs for RF Reader ICs. These ICs conform to published standards
like EPC Class 1 Gen 2 and ISO 18000-6. This provides benefits to customers so that
low cost, integrated and mobile solutions can be realized. We aim to add value to our
partners in the RF Reader hardware market segment and enable leading edge solutions to
customers for portable applications in various industry segments such as HealthCare,
Pharmaceutical, Logistics, Security Market and in the markets we serve.

Technology
Brief description:
0.18m CMOS
High Integration Level
World-wide frequency range
Meeting EPC/ISO standard
Flexible Operating Modes
Power Management Functions
SPI interface
Patents Pending

RF
ID
(d R
i sc e a
re d e
te) r

s
on
i
t
c
du
e
tR 5
s
o
0
r C , 20
e
ad 8th
Re ber h
FID cem arc
R
to y De Rese
y
e sda BI
K
r
A
ets Thu
s
ip
Ch

Past
Present

Re
ad
er

Small
size low
cost
Reader

IC

Future

How it works / What it does?

Reader IC integrated a large number of components
Improved Design being fabricated mid April 2007
Design is highly matured and demonstrated in Reader application.
Ready for production.
Antenna
Transmit Data

PA

SPI

MCU

Rx Data - I
Rx Data - Q

BandPass
Filter

RW910
RW910

20MHz
Crystal
Oscillator

Note:
1. Optional
2. Instead directional-coupler can be used.

UHF RFID Reader Module based on Reader IC

Drivers & Opportunities

Small size
Size reduction enabled by integration of components in a single chip
Possible integration into existing portable devices

Lower cost
Integration in RF CMOS technology affords low cost

Versatility/Flexibility
RFIC can support EPC Class 1 Gen 2 / ISO18000-6B/C protocols
Other custom/proprietary protocols can also be supported
Various short/mid/long range solutions can be crafted at system level
Adjustable operating parameters
860-960MHz covers worldwide operation
Programmable bandwidth and data rate

Dense mode & Listen before talk mode supported

Power Consumption
Lower than discrete and thus enable portable/mobile applications

Reader IC Portable/Mobile Mass Market

Competitive Landscape
Features

A*/IME

Coy W

Coy I

Coy SP

Coy SS

Integration

High

Lower

Higher

Higher

Higher

Technology

CMOS

SiGe

SiGe

CMOS

CMOS

Flexibility

High

Low

Low

Low

Low

Power

Mid

High

High

High

Low

Availability

Jan 07

Oct 06

Mar 07

Mar 07

Not yet

Based on information available in open literature

best chip we have seen so far Customer Inputs

Commercial interest / Customer Base

Large IDM interest NXP
Nokia
Texas Instruments
System Players Interest
Indentec
AWID
Ipico
Avery Dennison
Alien
Intermec
China/Taiwan Players
Promatic
Pretide

Reader Makers
Asis
Ariannegar
Powersoftglobal
Imagemart
Calcards
ATID
SmartID
End Users
Michelin
MediaCart

Management Team
YWG - 11 yrs exp

B.Eng (EE), M.Eng (EE)

Deputy Head for an IC
design & modeling group
of 50 staff
Successfully completed
several RFID related ICs
and other RFICs
Experience in
collaborating with
customers & industrial
partners
Many years of hands-on
experience in design of
RF IC, Analog and Mixedsignal circuits
Experience in advanced
packaging for RFID
More than 20 publications
& 7 patents in RF, mixed
signal circuits & systems

SYK - 28 yrs exp

B.Eng (EE), M.Eng (EE)

Founding Member of
UTAC. VP of R&D and
QRA.
Founding Member of
Infiniti Solutions Pte. Ltd.
Acquisition, M&A
experience. Off shore
operations experience.
Manager Texas
Instruments WW MOSM
packaging development.
Senior Member of
Technical Staff of Texas
Instruments (1988)
Failure Analysis
/Reliability/Calibration/
Chemical Lab Mgr
More than 40 publications
& 8 patents in packaging
and Test.

Another experienced team

member.

The Team Currently @ IME

The Technical Team consists of 6 IC designers and 2
Senior Managers.
More than 10 years of RF experience on average
More than 5 years of experience on RFID on average
Invented/co-invented more than 10 patents.
Also backed by IMEs IC design & modeling group
and pool of patents.

Past Experience of Core Team

Design RFID Related
rl
Wo

try
s
u
I nd

try
s
u
I nd

UHF/2.45GHz Tag IC
(0.35m CMOS)

UHF/2.45GHz Tag IC
(0.25m CMOS)

irst
F
s
d

2.45GHz Tag

2.45GHz On-Chip
Antenna Tag
(0.13m CMOS)

Other RFICs
Transmit path

In
Companion Reader for 2.45GHz
On-Chip Antenna Tag

try
s
u
I nd
Reader IC for 2.45GHz
RFID (0.35m CMOS)

Receive path

Packaging/Integration

Modeling

Multi-chip Module

RF & HF Test Chip

ry
t
s
du

WCDMA IF
(0.35m CMOS)

In

ry
t
s
du

2.45GHz Cordless
Phone Transceiver
(0.35m CMOS)

In

ry
t
s
du

Bluetooth Transceiver
(0.35m CMOS)

Use of Investment
US$5M - Series A $2M and Series B $3M
1. Develop markets
2. Establish Supply Chain
3. Build Design Team
4. Establish a product portfolio and product roadmap
5. Design Wins and Generate Sales

Financials
All in US$

Year 1

Year 2

Year 3

Year 4

Year 5

Sales Volume

10,000

40,000

105,000

320,000

500,000

Revenue

300,000

1,000,000

2,250,000

6,180,000

10,600,000

Gross Margin

80%

80%

Operating Expenses

700,000

2,000,000

Profit

(400,000)

(1,000,000)

80%
2,700,000
(450,000)

80%

80%

3,200,000

5,600,000

2,980,000

5,000,000

14000

Source: ABI Research 2005

In 1000

UHF Reader IC
Shipments growing at
CAGR of 135%

12000
10000

HF Reader IC

8000
UHF Reader IC
6000
Microwave
Reader IC

4000
2000
0
'04

'05

'06

'07

'08

'09

Product Roadmap
QFN low Profile
-low cost
-48/56 lds
RW930F

Product
Flip-Chip to
enable SD
applications

RW950F

ARM hi performance
80C51 low Cost

RW910F

RW950

RW930

USB/Enet/Serial I/F

RW910

UHF + HF Reader IC
(security)

Development
UHF + HF Reader IC
UHF Reader IC (low
cost, baseband
integration)
Cost Down Version1 5x5
drop Ind

Y1

Cost Down Version 2 4x4

drop unused/EMM

Y2

Y3

Summary

Products
- RF Reader Single Chip -> baseband

TEAM
- Experienced team and backed by A*STAR/IME

Market Opportunity
- Growing Market, driven by low cost tag and
low cost reader/ubiquitous application

Funds Required - $5M US

UHF Reader built with Reader IC

8cm
TQFP 100pins
Smaller than credit card with 2-layer board

Press Coverage

Growth Phases
Phase 3
Full Team

Generate
Sales

Phase 1
(6 12 mths)

Phase 2
(12 to 24 mths)

Break-even
Staff No 8 to 20
Full chip-design team in place
70K units sales / $2.25M

Increase Staff No 5 to 8
2nd Gen product ready for sampling
Technical work thru RCA with RIs
40K unit sales / $1M Revenue

Get the chip to market

Minimum Staff 3 to 5
Technical work thru RCA with IME
10K units sales / $300K Revenue

Key Activities and Milestones

Test Program Development
Finalize Design Improvements
Start Wafers
Qualify Assembly Subcontractor
Qualify Test Subcontractor
Qualify Package and Device
Qualify Flip Chip
Handheld Demo Unit
RFID Show
Target Design Wins
Roadmap to Mass Market
Close Fund Raising