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News >> Technology >>
Beceem raises $40 Million
By siliconindia
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Friday, 09 February 2007, 18:30 IST
SANTA CLARA: Babu Mandava and Prof Arogyaswami Paulraj founded company Beceem Communications, leader for Mobile WiMAX chipsets, announced a $40 million Series D-round of funding.
Teachers' Private Capital started the round and was later joined by NEC Corporation, a new investor in Beceem, adding to the company's list of strategic investors.
The funding will be used to accelerate the company's existing roadmap toward achieving robust growth in the WiMax market by investing in new product initiatives and strengthening Beceem's development capabilities for next-generation mobile broadband solutions.
The additional funding will also allow Beceem to continue to increase critical resources in support of its growing number of customer engagements.
All of Beceem's existing financial and strategic investors participated in the financing. The list of both new and existing investors in the Series D-round included: Global Catalyst Partners, Intel Capital, Khosla Ventures, KTB Ventures, Mitsui & Co. Technology Investment Group, NEC Corporation, DoCoMo Capital, Samsung Ventures, Sequoia Capital, Teachers' Private Capital, and Walden International.