Provigent Scores $8M

Provigent secures $8M in third-round funding to provide SOC solutions for broadband wireless transmission

September 20, 2004

2 Min Read

LOS ALTOS, Calif. -- Provigent Inc, a leading provider of system-on-a-chip (SoC) solutions for broadband wireless transmission, announced today it has closed a third round of financing in the amount of $8 million. With this round the total amount of funding raised stands at $19M. Providing funding in this round was Sequoia Capital (www.sequoiacap.com), along with Provigent's existing investors Pitango Venture Capital (www.pitango.com), Magnum Communications Fund (www.magnum-comm.com), Ascend Technology Ventures (www.ascendvc.com), Delta Ventures (www.delta-ventures.com), and Dr. Andrew Viterbi, co-founder of QUALCOMM (NASDAQ: QCOM).

"Provigent's innovative SoC technology offers system vendors improved performance and flexibility, while benefiting from the economy-of-scale and cost-effectiveness of off-the-shelf silicon," said Mr. Benny Hanigal a partner in Sequoia Capital, who joins Provigent's board of directors. "We believe that Provigent will be a serious player in the transition from home-grown solutions to merchant silicon in the broadband wireless transmission industry" concluded Mr. Hanigal.

Founded in 2000 by Mr. Guy Resheff and Mr. Dan Charash, Provigent is a fabless semiconductor company that provides SoC solutions for the broadband wireless transmission industry. Leveraging proprietary signal-processing algorithms and state-of-the-art semiconductor technology, Provigent develops highly integrated SoC's that provide an unparalleled combination of increased bandwidth, extended range and enhanced flexibility at lower system costs. These advanced SoC's enable manufacturers to develop cost-effective broadband wireless transmission equipment covering the microwave and millimeterwave frequency bands.

"This round of funding will facilitate the growth of Provigent's customer base and accelerate the development of next-generation silicon," said Dan Charash, Provigent's CEO. "By working closely with our customers and by pursuing the industry's most aggressive roadmap of algorithmic innovations and silicon integration, Provigent is ideally positioned to become the leading provider of SoC solutions for the broadband wireless transmission industry."

Provigent Inc.

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