LONDON Home networking chip startup Gigle Semiconductor has raised $20 million in Series B funding. The round was led by new investor Scottish Equity Partners, with existing investors Accel Partners and Pond Venture Partners also participating.
The new funding will be used to support the development and launch of the company’s SoC's for multimedia home networking.
Gigle (Edinburgh, Scotland) was founded in 2005 and has assembled a team of engineers to produce chips compliant with the Homeplug audiovisual connection standard but with extended performance and features. This should allow consumers to share digital content, including movies, television broadcasts, music, online gaming and other information, between multiple pieces of consumer electronics equipment in the home.
The company has R&D facilities in both Edinburgh and Barcelona, Spain, and offices in Redwood City, California.
Juan Carlos Riveiro, president and CEO of Gigle, said: "The investment will enable us to deliver on our promise of a home networking solution that provides vastly more reliable whole-home network coverage than the best solutions available today, an essential requirement for consumer acceptance."
Gigle is a strong advocate and leading participant in developments towards the IEEE powerline communications standard and the ITU any wire home multimedia communications standard, both of which are set to be confirmed in 2008