LONDON Synerchip Co. Ltd. (Hsinchu, Taiwan), a fabless chip company providing high-speed digital interface semiconductors, has announced it has closed a $10.5 million Series C round of financing.
The round was led by Jafco Asia and Pac-Link Capital. Existing investors Spirox, Magic Shares, Shinden and Synerchip CEO, David Lee, participated in the financing.
Synerchip, founded in 2005, is a driving force behind Digital Interactive Interface for Video & Audio (DiiVA). DiiVA enables consumer electronics devices to connect to one another in a network, carrying uncompressed video, audio, USB, Ethernet, content protection and power over a single low-cost cable.
The closing of this financing co-incides with the tape-out of the first DiiVA transmitter and receiver chips, the opening of Synerchip's Guangzhou office in China and support from both the Chinese government and industry.
"We have been on a roll, from the endorsement of DiiVA by the chairman of Hisense in his CES keynote speech, the addition of Samsung and Sony as DiiVA promoters, the successful tape-out of the world's first DiiVA chips to the financial support of leading investors Jafco Asia and Pac-Link together with the financial support of the Chinese government," said David Lee, Synerchip's chairman and CEO, in a statement. Lee added, "While the Series C round was oversubscribed, we felt that Jafco and Pac-Link's track record of working with companies successful in the Asia market, made them ideal leaders for the Series C financing."
"After speaking with potential customers, partners and Chinese governmental officials, we are confident that DiiVA and Synerchip will be highly successful," said Junitsu Uchikata, managing director of Jafco Asia. "We looked at the competing technology, including HDMI 1.4, DisplayPort and Wi-Fi, and believe DiiVA is the only technology that enables true home networking of uncompressed video that consumers will demand."