SANTA CLARA, CA (PRWEB) March 30, 2010 -- Xceive Corporation, the world leader in RF Tuner ICs for TV sets, announced today that it has secured recent funding in excess of $16M in a combination of Series E equity and debt financing. The Series E round was led by AVM Capital LP and Scale Venture Partners with other existing investors participating. This round of funding will be used primarily to fund new product development and the Company’s rapid expansion and growth.
“We have succeeded in achieving the number one position in silicon tuners for television, and we are very pleased that our investors are showing their commitment by continuing to fund our growth”, said Jean Louis Bories, President and CEO of Xceive. "This round of financing is a significant milestone for Xceive as it validates the rapid growth of our business evidenced by the continual adoption of our chips by major television manufacturers.”
This financing comes as a result of Xceive succeeding as the first and only Tuner IC company to achieve significant and widespread usage by TV OEMs such as LG, Amtran/Vizio, and other top TV manufacturers in Japan, Korea, Taiwan, China and Europe. Xceive’s tuner products are 100% compatible with all worldwide analog and digital television standards and are currently shipping in TVs for nearly all major markets worldwide. This financing will fund development of enhanced next-generation chip designs and also company expansion to address more customers and applications.
Xcieve is a venture-backed fabless semiconductor company developing RF silicon solutions for television signal reception which replace the bulky “Can” tuner modules traditionally used inside television sets. Xceive is producing the XC5000, the first silicon tuner which provides performance surpassing that of tuner modules. Xceive is the first silicon tuner manufacturer to achieve design wins and production ramps with several Tier one TV manufacturers. Xceive estimates that nearly 10 million TV sets have been produced for all regions of the world with its industry-leading XC5000 multi-standard tuner plus analog demodulator. This demonstrated market adoption highlights the flexibility of Xceive’s proprietary architecture which achieves true compatibility with all worldwide digital and analog TV standards.