Wednesday, February 24, 2010

Newport Media Raises $15M More

Lake Forest-based Newport Media, which develops semiconductors for the mobile TV market, announced today that it has raised $15M in a Series D funding round. The round was led by Pinnacle Ventures and also included prior investors Benchmark Capital, Venrock, Global Catalyst Partners, Oak Investment Partners and DAG. The firm last raised a round of funding in 2006. The new round brings the company's total raised to around $81M. According to Newport Media, the new funding will be used for working capital, and that it expects the funding is the "last step" needed to secure significant design wins. Newport Media's semiconductors integrate an RF tuner, demodulator, and memory on a CMOS IC. More information »