Netanya, Israel-based Siano Mobile Silicon said due to increased demand for mobile TV in China, Brazil, Russia and Korea the company has been able to raise $23.5 million in a fourth round of funding.
The six-year old company makes mobile digital TV receiver chips for cellphones, and other portable and hand-held devices for multiple standards. It works with such companies as Samsung, Motorola (NYSE: MOT), ZTE, Huawei, Mio, Garmin and Dell. Investors in the round consists of all Siano’s existing investors: JVP, DFJ-Tamir-Fishman, Star Ventures, Walden Israel, and Bessemer Venture Partners. Erel Margalit, Chairman of Siano and Managing Partner of JVP, said in a release: “Coming out of the global financial crisis around mid 2009, it was clear that the mobile DTV market has shifted gear, and from China and Brazil to Russia and Korea, the demand for Siano’s products has risen at a phenomenal rate.”
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