Monday, April 7, 2008

SiBEAM Secures $40M in Series C Funds

Semiconductor manufacturer SiBEAM Inc. announced Monday that it has closed its third round of venture financing after raising some $40 million. New Enterprise Associates led the effort, SiBEAM said, with help from previous contributors Foundation Capital and U.S. Venture Partners. Forest Baskett, a general partner with NEA, said his firm invested in SiBEAM because of the "enormous market potential" for its proprietary millimeter wave technology. Founded in 2004 and headquartered in Sunnyvale, SiBEAM manufactures high-speed wireless communications chips. The company claims to be the first to build 60 GHz chipsets using CMOS technology. The new round of funding brings the company's total raised to $77.25M. More information »