SiBeam Raises $36.5M

SiBEAM announced the closing of $36.5M in Series D funding led by Foundation Capital

March 9, 2010

2 Min Read

SUNNYVALE, Calif. -- SiBEAM, Inc., the leading innovator of millimeter wave (mmWave) solutions and developer of high-speed wireless communications platforms, today announced the closing of $36.5 million in Series D funding led by Foundation Capital. All of SiBEAM’s original investors contributed to this round including U.S. Ventures Partners (USVP) and New Enterprise Associates (NEA), joined by new partners in SiBEAM’s success, Lux Capital and Hatteras Funds. Best Buy Inc, and Cisco have also contributed strategic equity investments to support SiBEAM’s growth and propel its second generation 60 GHz wireless high definition chipsets into the mainstream consumer electronics marketplace, as well as fund future projects for personal computing and mobile devices.

“This market adoption further supports our confidence in SiBEAM’s technology and the team’s capabilities to drive and solidify the company’s leadership in the exciting and high-growth wireless connectivity market.”

"SiBEAM continues to deliver on its promise to bring high-quality, lossless wireless high definition capabilities to the A/V home entertainment market. Their team has executed well on its plans and has brought in nearly all leading CE manufacturers as customers through its work with the growing WirelessHD® Consortium,” said Adam Grosser, General Partner at Foundation Capital. “This market adoption further supports our confidence in SiBEAM’s technology and the team’s capabilities to drive and solidify the company’s leadership in the exciting and high-growth wireless connectivity market.”

SiBEAM’s 60 GHz semiconductor solutions with OmniLink60™ Technology have won multiple awards, most recently being honored with a 2010 Design Vision award in the semiconductor components category. The second generation of SiBEAM’s WirelessHD chipsets, brought into mass production earlier this year, represents the company’s movement into mass market applications with low cost, low power functionality. SiBEAM’s latest chipsets also support advanced features demanded by today’s consumer electronics market including 3D, HDCP and DTCP content protection that can be designed into A/V receivers, home theater-in-a-box systems, Blu-ray players, set-top boxes, media center PCs, and consumer laptops.

"We're proud to be SiBEAM investors," said Peter Hebert, Co-Founder and Managing Partner at Lux Capital. "With exceptional leadership and committed corporate partners, SiBEAM has become the indispensable technology innovator in wireless home networking."

SiBeam Inc.

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