The additional investment boosted the fourth round to $20 million.
Provigent Ltd. has raised an additional $4 million in its fourth financing round, boosting the round to $20 million altogether. Stata Venture Partners, founded by Analog Devices chairman Ray Stata, increased its investment from $1 million to $4 million.
Provigent is developing system-on-a-chip (SoC) solutions for broadband wireless transmission. Other investors in Provigent include Pitango Venture Capital, Sequoia Capital, Delta Ventures, Magma Venture Partners, Globespan Capital Partners, Ascend Technology Ventures, and Qualcomm co-founder Dr. Andrew Viterbi. Provigent has raised $46 million to date.
Provigent CEO Dan Charash and Guy Reshef founded the company in 2000. Reshef has since left it. Charash said, 'This successful round of funding will enable Provigent to further accelerate its roadmap and market penetration."
Published by Globes [online], Israel business news - www.globes-online.com - on March 31, 2008
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