SAN JOSE, Calif. SiBeam Inc., a developer of millimeter wave chipsets and platforms, has closed $40 million in Series C funding.
The funding was led by New Enterprise Associates (NEA). Follow-on investments are included in this round from existing investors, Foundation Capital and U.S. Venture Partners (USVP).
''This financing fuels SiBeam's progress to move into the next phase of growth and evolution of our business strategy: expanding our sales and distribution footprint to support customer design wins, as well as developing future generations of our product line," said John LeMoncheck, president and CEO of SiBeam, in a statement.
Founded in 2004, SiBeam is a fabless semiconductor company developing millimeter wave technologies and leveraging the latest manufacturing methods to meet the demand for high-bandwidth services. It is said to be the first to build 60-GHz chipsets using CMOS technology.
The first of many applications for SiBeam's technology is based on the WirelessHD Consortium.