Wireless chipset developer ASOCS Ltd. has raised $8 million in its second financing round, led by Japanese-American fund FinTech GIMV Fund. Current investors Vertex Venture Capital and Harel Hertz Investment House Ltd. also invested in the round. Previous investors include Daniel Recanati and Gideon Ben-Zvi.
ASOCS has raised $20 million to date.
The rapid progress in functionality required by mobile telephone processors is the result of technology solutions designed to make handsets smarter, sometimes smarter than some PCs. ASOCS MultiComm processors target two challenges: the ability of the same processor to work with all communications networks and to run applications, such as VoIP and GPS, simultaneously.
A few months ago, ASOCS completed development of its first processor, which it began marketing in the Far East. The company's primary market is Japan. The company will use proceeds from the round to expand its presence in the Japanese and US markets and to boost sales and marketing to support its growing customer base.
Published by Globes [online], Israel business news - www.globes-online.com - on September 3, 2008
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