Provigent Inc, a system-on-a-chip (SoC) solutions provider for broadband wireless transmission, announced today it has closed a third round of financing in the amount of $8 million.
With this round the total amount of funding raised stands at $19 million. Providing funding in this round was Sequoia Capital, along with existing investors Pitango Venture Capital, Magnum Communications Fund, Ascend Technology Ventures, Delta Ventures, and Dr. Andrew Viterbi, co-founder of QUALCOMM (NASDAQ: QCOM).
Sequoia Capital partner Benny Hanigal, who joined Provigent’s board of directors, said, “We believe that Provigent will be a serious player in the transition from home-grown solutions to merchant silicon in the broadband wireless transmission industry”.
Provigent was founded in 2000 by Guy Resheff and Dan Charash. The company develops highly integrated SoCs that enable manufacturers to develop cost-effective broadband wireless transmission equipment covering the microwave and millimeterwave frequency bands.
Charash said that the current round of funding would assist in increasing Provigent’s customer base and accelerate the development of next-generation products.
Published by Globes [online] - www.globes.co.il - on Monday, September 20, 2004