Tuesday, April 20, 2010

Synerchip Raises $10.5 Million Series C Round

GUANGZHOU, China & SUNNYVALE, Calif.--(BUSINESS WIRE)--Synerchip Co. Ltd., a provider of innovative high-speed digital interface semiconductors, today announced that it has closed a $10.5 million dollar Series C round led by JAFCO Asia and Pac-Link Capital. Existing investors Spirox, Magic Shares, Shinden and Synerchip CEO, David Lee, participated in the financing.

Synerchip is a driving force behind Digital Interactive Interface for Video & Audio™ (DiiVA™). Focused on elevating the home entertainment experience to a higher level, DiiVA enables consumer electronics devices to connect to one another in a network, carrying uncompressed video, audio, USB, Ethernet, content protection and power over a single low-cost cable. The DiiVA network brings consumers the following advantages: establishes the TV as the point of interaction for all devices on the network, enables content-based versus connection-based navigation, offers shared internet and USB access to content, and provides integration of mobile and portable devices and support for 3D formats and 4K displays—making possible the ultimate intuitive and interactive digital entertainment experience.

The closing of this financing combined with the successful tape-out of the world’s first DiiVA transmitter and receiver chips, the opening of its Guangzhou office and support from both the Chinese government and industry, mark the start of Synerchip’s growth phase.

“We have been on a roll, from the endorsement of DiiVA by the chairman of Hisense in his CES keynote speech, the addition of Samsung and Sony as DiiVA promoters, the successful tape-out of the world’s first DiiVA chips to the financial support of leading investors JAFCO Asia and Pac-Link together with the financial support of the Chinese government,” said David Lee, Synerchip’s chairman and CEO.

“We are excited by the market opportunity for DiiVA and impressed with Synerchip’s plan to be market leaders in promoting and delivering DiiVA IC solutions,” said Junitsu Uchikata, managing director of JAFCO Asia. “After speaking with potential customers, partners and Chinese governmental officials, we are confident that DiiVA and Synerchip will be highly successful. We looked at the competing technology, including HDMI 1.4, DisplayPort and Wi-Fi, and believe DiiVA is the only technology that enables true home networking of uncompressed video that consumers will demand.”

“We believe that the management team’s prior experience in making HDMI a ubiquitous world standard and applying that expertise to the enormous China and home networking markets is a winning combination and lends great promise for Synerchip’s future success,” said Ming Hsu, general partner of Pac-Link.

Lee added, “While the Series C round was oversubscribed, we felt that JAFCO and Pac-Link’s track record of working with companies successful in the Asia market, made them ideal leaders for the Series C financing.”

About Synerchip

Synerchip is a private fabless semiconductor company developing innovative high-speed digital interface technology for consumer electronics networks to securely and reliably send and receive video, audio and data simultaneously to maximize the home entertainment experience. With operations in Silicon Valley and Asia, the company strives to bring cost-effective, innovative technology to global markets. Synerchip is a DiiVA Promoter and founding member of the DiiVA Consortium. For more information, visit www.synerchip.com

About JAFCO Asia

JAFCO Asia is one of the leading brands in the venture capital industry in the Asia Pacific region. Its primary focus is to invest in promising technology enterprises with high-growth potential. Headquartered in Singapore, and with offices in Shanghai, Beijing, Hong Kong, Taipei and Seoul, JAFCO Asia has around $650M in aggregate funds under management. It is an operating subsidiary of JAFCO Co. Ltd, which is part of the Nomura group of companies and one of the largest private equity firms in Japan with $4B under management and is listed on the Tokyo Stock Exchange.

About Pac-Link

Founded in 1998, Pac-Link has established itself as a professional venture capital management firm. Up to now, Pac-Link has managed ten funds, with a total fund size growing from US$30M to US$430M. Ever since its establishment, Pac-Link has invested and assisted over 160 portfolio companies to grow their business. The portfolio covers a wide range of industries, including auto, communication, semiconductor, optical electronics, and life sciences, mostly in Asia and North America.

No comments:

Post a Comment