LANGHORNE, Pa. -- In its third round of funding, communications IC maker NxtWave Communications Inc., has added another $15.0 million to its war chest. In September 1999, the company secured $13.6 million in its second round of venture funding.
The company, whose products are used in digital televisions, digital set-top receivers, digital video recorders, personal computers and cable modems, said it will use the money for the development of new products for digital television, as well as for general corporate purposes.
NxtWave recently annouced a partnership with TeraLogic on the development of a reference design for DTVPC (digital television for the PC).
NxtWave was established under the name of Sarnoff Digital Communications Inc., and was spun out of Sarnoff in 1996. In 1999, the company changed its name to NxtWave Communications.
Investors in the company include Aanadigics, Blue Rock Capital, Dimensional Partners, Intel Capital, Oak Investment Partners, Pequot Venture Partners, PS Capital Ventures, Venture First Associates and Whitney & Company, as well as C. E. Unterberg Towbin Capital Partners, Mitsubishi, MC Capital, and MC Silicon Valley Inc.