Redpoint Ventures and Jp Morgan Fleming Investments led the financing round.
TransChip has completed a $19 million financing round. Two US nes investors in the company, Redpoint Ventures and Jp Morgan Fleming Investments, led the financing round. All the previous investors in the company - Mission Ventures, Cadence Design Systems, and two private investors: Analog Devices cofounder and chairman Ray Stata and QUALCOMM cofounder Dr. Andrew Viterbi also participated in the round. TransChip develops small cameras for mobile telephones.
Founded in 1999, TransChip has raised $7 million to date. Cofounder and CEO Viktor Ariel said that the issue followed the company’s first sales in the preceding quarter: “We already have satisfied top-level customers. The money is designated for expanding our marketing and sales around the world. We plan to open an office in the US, in addition to those in China and Taiwan. We’ll also add to our development team.”
Published by Globes [online] - www.globes.co.il - on February 10, 2004