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Fremont: Quantenna Communications, a developer of silicon for high-speed, multimedia wireless networking, has received $13.85 million in series C funding led by new investor Southern Cross Venture Partners, with participation from existing investors Grazia Equity GmbH, Sequoia Capital, Sigma Partners and Venrock Associates. In addition, Southern Cross Venture Partners Managing Director Dr. Larry Marshall has joined Quantenna's board of directors. With this latest round, total investment in the three-year old wireless semiconductor company now exceeds $42 million.
Quantenna is focused on solving today's home networking challenges. These challenges include delivering ultra-reliable, high-speed wireless coverage throughout the whole home to support sharing of high definition (HD) video and multimedia content between home gateways and TVs anyplace, anywhere. Quantenna's technology is targeted at devices such as home residential gateways, set-top boxes, routers, HDTVs and consumer electronic devices, which all require high bandwidth and reliability to support whole home HD video distribution and networking over standard Wi-Fi networks.
"In this tough economic environment, we looked at many wireless companies and found that Quantenna was leading the way with the next generation of wireless MIMO technology and an outstanding engineering team, while generating substantial interest from the industry's top consumer electronic manufacturers," said Dr. Larry Marshall, Managing Director at Southern Cross Venture Partners. "The company's significant lead in next-generation, standards-based Wi-Fi home networking, coupled with the rapid adoption of wirelessly distributing multimedia content throughout the home, presented a great investment opportunity for us," he added.
Quantenna plans to use the series C funding to solidify its market position as the wireless networking semiconductor vendor of choice for manufacturers looking to deliver standards-based, real-time HD video distribution for next-generation HD gaming, multimedia and entertainment throughout the connected home. The new funding also will be used as working capital to help the company expand sales and engineering activities and support increased production of its wireless networking solutions.
"Clearly, our new and existing investors recognize the exceptional investment opportunity of Quantenna, as our wireless technology will enable both carriers and consumer electronic manufacturers as they compete for who will control the digital living room," said Behrooz Rezvani, Quantenna's Chairman of the board.
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