TelASIC Raises $12.5M

El Segundo-based TelASIC Communications announced this morning that it has raised $12.5M in funding, in a new round led by ATA Venture. Prior investors Mission Ventures, Redpoint Ventures, and the IPO Group also participated in the round. TelASIC is a supplier of components for the HSDPA/WCDMA telecommunications market; the firm said that the funding will go towards expanding its manufacturing operations and customer support organization. TelASIC was spun off from Raytheon in 2001; the firm has now raised at least $96M in venture capital funding. More information »