Altair Raises $22M

Latest round of funding primes Altair's global expansion and future developments in mobile WiMax, LTE, and XGP chip technologies

September 23, 2008

1 Min Read

HOD HASHARON, Israel -- Altair Semiconductor, a fabless chip company developing the world's most advanced 4G mobile semiconductors for handsets and handheld devices, today announced that it closed a U.S. $22M Series C funding round. The round, in the form of a combined equity and credit investment, was led by Pacific Technology Fund (PTF), and joined by ETV Capital and returning investors. The funding will be used to support Altair's global expansion, sales and customer support, as well as future development of Altair's chipsets for WiMAX, LTE and XGP.

"Pacific Technology Fund is very impressed with Altair's strong record of achievement, and the potential of Altair's technology," said Adriaan Lightenberg, Managing Partner of Pacific Technology Fund. "We believe Altair's chipsets are going to change the rules of the game in the 4G market with lower power consumption, smaller size and decreased cost of bringing products to market."

Altair International Inc. (Nasdaq: ALTI)

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