Intellon Raises $23.5M

Intellon raises $23.5M in new equity financing, led by Comcast Interactive Capital, EnerTech Capital, and Liberty Associated Partners

April 5, 2004

2 Min Read

OCALA, Fla. -- Intellon Corporation, the world leader in integrated circuits for high-speed powerline networking, today announced it has raised $23.5 million in new equity financing. The investment was led by Comcast Interactive Capital, EnerTech Capital and Liberty Associated Partners, LP. Intellon’s largest investor, Fidelity Ventures, was also a major participant in the financing. Other investors in the round included Duchossois TECnology Partners, Hydro-Québec CapiTech, Philips Venture Capital Fund, TL Ventures and UMC Capital Corporation.

Intellon designs and develops integrated circuits that enable high-speed networking over existing powerlines within a home or office. The technology is used to network devices without the traditional coverage, security and interference limitations that wireless solutions entail. Intellon’s patented technology was selected by the HomePlug® Powerline Alliance as the basis of the HomePlug 1.0 standard. The company is currently shipping chipsets that enable powerline communications at speeds of up to 14 Mbps.

Intellon customers currently shipping powerline networking products include Asoka, Belkin, Corinex, Devolo, DLink, Elcon, Gateway, Gigafast, Linksys, Netgear, Packard Bell, Siemens and ST&T. These products can be purchased at retail outlets including Best Buy, Circuit City, Radio Shack, Office Depot and CompUSA.

Intellon will use the new funds for general working capital and the development and production of its PowerAV™ integrated circuits. Intellon’s next generation PowerAV chipsets, available later this year, will support transmission speeds well in excess of 100 Mbps, allowing transmission of multiple audio, standard-definition video and HDTV video streams over powerlines, with better bandwidth, coverage and reliability than existing wireless technologies. Intellon’s PowerAV technology has been selected to be part of the baseline technology for the HomePlugAV specification being developed by the HomePlug Powerline Alliance, Inc.

“As the inventor of the technology behind the HomePlug 1.0 standard, Intellon is driving the market for powerline networking and communications on a worldwide basis. We are particularly interested in the growth opportunities we see for powerline networking in data, video and voice distribution in the home,” said Julian Brodsky, founder and vice chairman of Comcast Corporation and senior managing partner of Comcast Interactive Capital.

“Powerline networking is the simplest and widest coverage home-networking technology available today. We are excited by the opportunity for Intellon to embed its technology in consumer electronics devices, enabling the power cord to deliver both power and communications to any device,” said Scott Ungerer, managing director and CEO of EnerTech Capital.

"This new round of funding puts Intellon in an exceptional position to capitalize on the future growth opportunities in powerline communications and to further expand our worldwide leadership in the market for powerline ICs. With this strong support from key investors and strategic partners we can move toward worldwide deployment of our exciting PowerAV technology in 2004,” said Charlie Harris, chairman and chief executive officer of Intellon.

Intellon Corp.

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like