Monday, December 13, 2010

AltoBeam Closed Series C Funding

BEIJING--(BUSINESS WIRE)--AltoBeam, a developer of advanced DTV demodulators, today announced that it has successfully closed a 6 million US dollars round of Series C funding, led by US Venture Partners (USVP). Subsequently, Irwin Federman and David Liddle, partners of USVP and veterans in the semiconductor industry and investment community, joined AltoBeam’s Board of Directors. AltoBeam’s long-term investors, DFJ DragonFund, Tano Capital, and PYJ-Dynasty Venture Fund, also participated in the round.

USVP is a highly regarded Tier-1 Silicon Valley venture capital firm that has helped build great companies for three decades. Its investment portfolio includes industry leaders in a variety of markets, such as Sun Microsystems and AMCC.

AltoBeam’s advanced DTV demodulators have been adopted by a significant majority of global TV makers, and the successful close of the Series C round with USVP and its long-term investors demonstrates that the company has become a major player in CTTB/DTMB DTV semiconductor supply chain and won investors’ confidence.

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