Provigent Secures $8 Million in Third-Round Funding to Provide SoC Solutions for Broadband Wireless Transmission
LOS ALTOS, CA -- (MARKET WIRE) -- 20-09-2004 --
Provigent Inc., a leading provider of
system-on-a-chip (SoC) solutions for broadband wireless transmission,
announced today it has closed a third round of financing in the amount of
$8 million. With this round the total amount of funding raised stands at
$19M. Providing funding in this round was Sequoia Capital
(www.sequoiacap.com), along with Provigent's existing investors Pitango
Venture Capital (www.pitango.com), Magnum
Communications Fund (www.magnum-comm.com), Ascend Technology Ventures
(www.ascendvc.com), Delta Ventures
(www.delta-ventures.com), and Dr. Andrew Viterbi, co-founder of QUALCOMM.
"Provigent's innovative SoC technology offers system vendors improved
performance and flexibility, while benefiting from the economy-of-scale and
cost-effectiveness of off-the-shelf silicon," said Mr. Benny Hanigal a
partner in Sequoia Capital, who joins Provigent's board of directors. "We
believe that Provigent will be a serious player in the transition from
home-grown solutions to merchant silicon in the broadband wireless
transmission industry," concluded Mr. Hanigal.
Founded in 2000 by Mr. Guy Resheff and Mr. Dan Charash, Provigent is a
fabless semiconductor company that provides SoC solutions for the broadband
wireless transmission industry. Leveraging proprietary signal-processing
algorithms and state-of-the-art semiconductor technology, Provigent
develops highly integrated SoC's that provide an unparalleled combination
of increased bandwidth, extended range and enhanced flexibility at lower
system costs. These advanced SoC's enable manufacturers to develop
cost-effective broadband wireless transmission equipment covering the
microwave and millimeterwave frequency bands.
"This round of funding will facilitate the growth of Provigent's customer
base and accelerate the development of next-generation silicon," said Dan
Charash, Provigent's CEO. "By working closely with our customers and by
pursuing the industry's most aggressive roadmap of algorithmic innovations
and silicon integration, Provigent is ideally positioned to become the
leading provider of SoC solutions for the broadband wireless transmission
industry."
About Provigent
Provigent is a fabless semiconductor company aiming to become the leading
supplier of SoC solutions for the broadband wireless transmission industry.
More information is available at, On the web: www.provigent.com.
Company contacts:
General:
info@provigent.com
Media:
pr@provigent.com
Media contacts:
Ms. Karen George
AccessM3, CA
(562) 283 2083 ext 302
Karen@AccessM3.com
