Innofidei Raises $10 Million

Innofidei, a Beijing-based provider of enabling IC and system solutions for the mobile TV broadcasting market, last year raised $10 million in VC funding from BlueRun Ventures and another, undisclosed, investor.

 

PRESS RELEASE

 

Innofidei, a leading provider of enabling IC and system solutions for China mobile TV broadcasting market, announced today that it has raised $10 million in year 2007 from BlueRun Ventures together with another investor. The company will use the funding for R&D and operating capital.

“We believe mobile TV broadcasting is a very attractive service to Chinese consumers, and we like the strong team from Innofidei which has good track record in starting up semiconductor ventures,” said Dr. Andrew Chen, Partner at BlueRun Ventures. “Since its inception in September 2006, the company has executed very well to bring its China standard CMMB receiver chip & solutions into mass production.”

Headquartered in Beijing with branch offices in Silicon Valley and Taipei, Innofidei provides enabling IC and system solutions for China mobile TV broadcasting market. Innofidei is a market leader in algorithm and broadcast transmitter system solutions. With their low power VLSI and RF/Mixed-signal technologies they can provide customers  low-power and low-cost chip product and solutions. Innofidei was founded in Beijing Z-Park by proven serial entrepreneurs in semiconductor industry.

Dr. Tom Zhang, Chairman, President and CEO of Innofidei commented: “CMMB is the only endorsed standard by SARFT in China. We are the 1st chip vendor to come up with CMMB solutions. We believe our CMMB solutions can enable mobile TV broadcasting service before the 2008 Olympics Games. We are very excited to have BlueRun as an investor. BlueRun Ventures has a very good understanding of the global mobile TV broadcasting industry and development trends, and has brought in additional values such as knowledge and industry network.”

About Innofidei

Innofidei, headquartered in Beijing with branch offices in Silicon Valley and Taipei, provides enabling IC and system solutions for China mobile TV broadcasting market. Innofidei was founded in September 2006 in Beijing Z-Park by proven serial entrepreneurs in semiconductor industry. For more information, visit www.innofidei.com.

About BlueRun Ventures

Launched in 1998, BlueRun Ventures is a leading early stage venture capital fund. Blue Run Ventures' proven approach is to invest globally as a single fund in best-of-breed technologies and teams with the drive and ability to build leading global companies. BlueRun Ventures is headquartered in Menlo Park, California, with offices in Beijing, Helsinki, Herzelia (Israel), Mumbai, Seoul, and Shanghai. For more information, visit www.brv.com.