LONDON Mobile TV chip startup Newport Media Inc. has raised $30 million in a Series C funding round that brings the total investment in the company to $66 million since its foundation in 2005.
The round was led by new investor DAG Ventures. Previous investors Benchmark Capital, Global Catalyst Partners, Oak Investment Partners, Pinnacle Ventures, and Venrock Associates also participated in the round.
Newport Media (Lake Forest, Calif.) says the extra money would be used to ramp volume production of its devices and the expand the range ro handle different standards.
The company is one of a growing number of companies targeting the nascent market for chips for mobile TV, including start-ups such as DiBcom, Siano Mobile and Frontier Silicon as well as established players such as NXP Semiconductors, Texas Instruments, Freescale Semiconductors and Microtune.
Newport's Sundance H chipset is initially targeted at Digital Video Broadcasting-Handhelds (DVB-H) but the company stresses the series will also support other air interface standards including Terrestrial-Digital Multimedia Broadcasting (T-DMB), Integrated Services Digital Broadcasting-Terrestrial (ISDB-T) and MediaFLO.
Mohy Abdelgany, president and chief executive officer, Newport Media, said: "We have moved quickly to deliver the world’s smallest and best performing mobile TV chipset with superior power efficiency, and have engaged with multiple tier-one customers worldwide to help them bring exciting new next-generation mobile TV handsets to market during 2007."