Tzero raises $18 Mn in Series C Funding
Date: Wednesday , April 02, 2008
Dr. Rajeev Krishnamoorthy founded Tzero Technologies, a provider of chipsets for Ultra Wideband (UWB), raised $18 million in its third round of funding. Led by the CID Group, the funding included current investors – August Capital, Lightspeed Venture Partners, OVP, U.S. Venture Partners, and VentureTech Alliance.
“This round of funding will enable Tzero to expand its market presence, gain critical design wins across a broad spectrum of high-volume customers, and bring the next generation of products to market,” said Krishnamoorthy.
“Tzero’s UWB technology enabled chipsets’ significant advantages generated considerable interest among investors,” says Krishnamoorthy. “Tzero’s technology for wireless distribution of high definition video is the only solution that meets the performance requirements of the leading consumer electronics manufacturers,” says David Yang, partner with the CID Group. “UWB is quickly gaining traction in the market as the standard for wireless video and Tzero is leading this ramp. We are excited to be part of the team that brings this product to the wireless digital media centered home market. Though there are four to five other UWB companies in the space, Krishnamoorthy finds that those companies are not competitive enough as they are mostly addressing the Wireless USB and PC peripheral space. “WiFi (802.11) is always a potential competitor. However, as their performance has not been reliable for video, they have not been a significant presence,” says Krishnamoorthy.
Founded in 2003, with headquarters at California, Tzero has 40 employees.