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A receiver design for M-ary bi-orthogonal modulation scheme is proposed for reducing the complexity caused by the large number of correlation functions. M-ary bi-orthogonal modulation scheme for ultra wideband impulse radio systems provides high multiple access performance in high data rate scenarios. Improvement of the bit error rate performance and the system capacity are obtained when large modulation levels are considered. Large values of the modulation level increase the receiver complexity. The proposed receiver, based on RAKE structures, reduces the number of correlation functions by means of a new definition of template sequences. The results illustrate that the reduced complexity RAKE receiver outperforms the conventional RAKE for a low number of correlators.