Icera Secures $45m Financing to Accelerate Growth

BRISTOL, England, May 19, 2010 - Icera Inc., the mobile broadband semiconductor company, today
announced that its investors have provided a further $45M in equity capital
to accelerate the growth of its market share. All existing preferred
shareholders, including Accel Ventures, Amadeus Capital Partners, Atlas
Venture, Balderton Capital and DFJ Esprit, participated fully in the funding
round.

Icera is continuing to extend its global market share for
chipsets used in high performance, high speed mobile broadband devices, such
as USB modem sticks and embedded modules for notebooks, netbooks, tablets and
other emerging devices. The new financing will also provide additional
funding for the Company's expansion into the fast growing smartphone market.

Stan Boland, President & CEO, Icera Inc, said: "We are
delighted to attract additional equity financing for our business. It comes
at a time when we are achieving strong endorsement from mobile network
operators and a sharp growth in our shipments to the world's largest device
manufacturers. The new funding will allow us to expand our customer-facing
engineering support and accelerate the dates we propel our technology into
the fast-growing smartphone market. Here, our advanced receiver technologies
will bring real user gains whilst materially reducing network operators' cost
of service delivery."

Kevin Comolli, Managing General Partner at Accel Partners,
said: "We're impressed with Icera's strong revenue growth, the
diversification of its customer base as it delivers this growth and its
continued technology and performance leadership, ensuring its products are
strongly differentiated in very large end-markets."

Icera's Adaptive Wireless(TM) modem technology is focused
today on 3G (HSPA+, HSPA) and 2G (GSM, GPRS, EDGE) cellular voice and data
modem chipsets and firmware, with 4G (LTE) scheduled in the near future.
Adaptive Wireless(TM) executes the entire modem in software on a new Icera
high performance processor.

About Icera

Icera is a fabless semiconductor company, pioneering high performance,
low power, soft modem chipsets for the fast growing mobile broadband device
market. Icera technology delivers the highest performance modem solutions for
USB dongles, laptops, netbooks and smartphones. Founded in 2002, Icera is
headquartered in the UK, with design locations in the UK, France, USA and
China, with customer engineering and sales offices in Europe, Asia and the
USA. For more information, visit the Icera web site at
www.icerasemi.com.

For further information, please contact: Sally Doherty, Icera Inc., Tel: +44(0)1454-284800, Email: sally at icerasemi.com