DesignArt develops an integrated system-on-chip (SoC) for mobile multi-media network infrastructure.
Fabless semiconductor start-up DesignArt Networks Ltd. has completed a financing round led by Motorola Ventures, the investment arm of Motorola Inc. (Nasdaq: MOT). Previous investors Carmel Ventures and Magma Venture Partners also participated in the round.
Motorola declined to disclose the size of the financing round, but it estimated at $10-20 million, based on the fact that DesignArt is still in the development stage. The company is developing an integrated system-on-chip (SoC) for mobile multi-media network infrastructure. The SoC targets mobile and fixed WiMAX. Motorola's interest in the company is based on its target market: wireless communications equipment, where Motorola has a strategic interest.
DesignArt CEO Oz Barak, CTO Assaf Toubul, and Avishay Mor founded the company in 2006. The company raised $10 million in its seed round. Based in Rishon LeZion, the company has about 20 employees according to IVC Online.
Published by Globes [online], Israel business news - www.globes-online.com - on February 12, 2008
© Copyright of Globes Publisher Itonut (1983) Ltd. 2008