Wintegra develops solutions allowing communications providers to quickly and cheaply convert from ATM to IP networks.
Plenus loan company has granted $5 million in credit to semiconductor company Wintegra. Wintegra develops single-chip network access solutions allowing communications providers to quickly and cheaply convert from ATM to IP networks. Wintegra plans to launch its first product early next year.
Wintegra was founded in 2000 by its president, CEO and chairman Kobi Ben-Zvi and VP marketing Robert O'Dell, who previously held senior positions at Motorola (NYSE:MOT). The company currently has 70 employees at its offices in Ra'anana, Scotland and Austin, Texas. In late 2001, the company completed its second financing round of $21 million. The company value was not disclosed, but was probably similar to its first round, when Wintegra raised $10 million at $60 million company value, after money.
Plenus, which began operations six months ago, provides bridging loans and credit lines to start-ups. In conjunction with other financial institutions, Plenus has carried 14 deals totaling $50 million. Fund manager Ruth Simha said the Wintegra investment was based on "the capability of the system the company is developing and the simplicity of the solution it offers."
Published by Globes [online] - www.globes.co.il - on June 11, 2002