Four new overseas investors also participated in the funding round.
Wisair Ltd., a developer of Ultra Wide Band (UWB) and wireless USB solutions has raised $24 million in its latest funding round. The company's existing investors participated in the round, which was led by four new investors, Susquehanna Growth Equity, Advent Venture Partners, and two Japanese funds, Bridge Capital Fund, and Yasuda Ventures. The company has now raised a total of $70 million to date.
Wisair was founded in 2001 by president and CEO David Yaish, and RAD Group controlling shareholders Yehuda and Zohar Zisapel. The company develops chips for short-range broadband wireless communications, and had several million dollars in sales in 2007. The company's other investors include Intel Capital, Broadcom Corp. (Nasdaq: BRCM), as well as Apax Partners, and Vertex Venture Capital, which also participated in the latest funding round.
Wisair is developing a technology whose key application is Wireless USB where devices do not need to be physically connected to a computer through a USB port.
Published by Globes [online], Israel business news - www.globes.co.il - on February 27, 2008
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