Provigent, a Santa Clara, Calif.-based provider of system-on-a-chip solutions for the broadband wireless transmission market, has raised $4 million in additional fourth-round funding. It had held a $16 million first close in 2006. Stata Venture Partners led the expansion with a $3 million investment. Other company shareholders include Sequoia Capital, Pitango Venture Capital, Magnum Communications Fund, Ascend Technology Ventures, Delta Ventures and Qualcomm co-founder Andrew Viterbi.
Provigent, a leading provider of System-on-a-Chip (SoC) solutions for the broadband wireless transmission market, announced today that it has increased the fourth round funding to $20 million.
Stata Venture Partners investment in the fourth round increased from $1 million to $4 million. In addition to Stata Venture Partners, Provigent's technology investors include: Sequoia Capital, Pitango Venture Capital, Globespan Capital Partners, Ascend Technology Ventures, Magma Venture Partners, Delta Ventures, and Dr. Andrew Viterbi, co-founder of QUALCOMM.
“Provigent's consistently growing and strong customer base is constant validation of its leading position as the merchant silicon provider in this growing market,” stated Ray Stata, co-founder and Chairman of Analog Devices. “The company's aggressive execution of initiatives to support next generation wireless communication with Provigent proven technology such as PVG610 and PVG310 influenced the decision to increase Stata Venture Partners investment in the fourth round.”
“This successful round of funding will enable Provigent to further accelerate its roadmap and market penetration,” stated Dan Charash, Provigent's CEO. “We value the support of all our investors and look forward to Ray Stata's continued involvement and guidance as a member of the Advisory Board.”
Provigent's field-proven, mass production SoC solutions offer significant system level enhancements while lowering overall system cost. With an established economy of scale, significant R&D investments and a focused dedication to the broadband wireless transmission industry, Provigent continues to establish itself as the market's leading SoC provider.