Thursday, August 6, 2009

Symwave Gets $4M Investment

Laguna Niguel-based Symwave, a developer of USB semiconductors, has received a $4M investment from a strategic partner, SMSC. According to SMSC, it is in a strategic relationship with Symwave to accelerate its delivery of USB 3.0 products, and will invest $4M in Symwave, with a committment of an additional $1.3M in needed, and the right to acquire Symwave under certain conditions. As part of the funding, SMSC is adding a representative, President and CEO Christine King, to Symwave's board. SMSC said that Symwave now has approximately 100 employees between its operations in San Diego and Shenzhen, China. Symwave has previously raised funding from Kodiak Venture Partners and CMEA Ventures, among others. More information »