Newport Media Gets $30M

Lake Forest-based Newport Media, a developer of semiconductors for the mobile broadcast media market, said today that it has closed a $30M venture capital round from DAG Ventures. Existing investors Benchmark Capital, Global Catalyst Partners, Oak Investment Partners, Pinnacle Ventures, and Venrock Associates also participated in the Series C investment. The investment brings the firm's total raised to over $66M. Newport Media is developing system-on-a-chip semiconductors targeted at mobile and wireless television standards. More information »