picoChip Has $20.5M for WiMAX
June 24, 2005
Wireless chipmaker receives third round of funding to develop its WiMAX technology.
English chipmaker picoChip said Wednesday it has snagged $20.5 million in third-round venture capital funding, giving it a total of more than $40 million to develop its WiMAX technology for boosting wireless transmission speeds.
The latest round came from Intel Capital, Rothschild Investment, and lead investor Scottish Equity Partners (SEP). Combined with prior funding from Pond Venture Partners and Atlas Venture, the five-year-old company has now raised $41.5 million.
The cash gives the firm extra resources to develop WiMAX, which promises to substantially increase wireless transmission speeds, bringing it more in line with broadband wireline transmission capabilities. With the increased funding, picoChip will be able to invest more resources in putting its technology into products.
The money will also give picoChip more funds to work on 3G wireless WCDMA (wideband code division multiple access) technology and TD-SCDMA (time division synchronous CDMA) products.
The company’s chips have already been selected by Intel for its Glenfield boards, which are going into WiMAX base stations. Fujitsu and Marconi have also signed contracts with Airspan, which is using picoChip’s WiMAX technology.
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