Friday, August 17, 2007

Quartics Gets $7.5M In Debt

Irvine-based Quartics, a developer of wireless video processing chips, has raised $7.5M in venture debt, according to funder Hercules Technology Growth Capital. Hercules said that it provided the debt to provide growth capital for Quartics research and development, as well as expanded sales and marketing at the firm. Quartics is headed by former AST founder Safi Qureshey, and has previously raised venture funding from Enterprise Partners.