Alphamosaic Raises $9M

Alphamosaic, developer of multimedi aprocessors for mobile phones, has received $9M in funding

April 7, 2004

1 Min Read

CAMBRIDGE, U.K. -- Alphamosaic, the industry leader in next generation multimedia processors for mobile phones, has successfully raised $9 million of working capital from its existing venture capital investors.

Since the launch of its VideoCore technology in 2003, the company has seen a huge ramp-up in demand for its VC01 processor, evidenced by an announcement of a multi million dollar deal with global electronics company, Samsung.

Alphamosaic is working with a number of leading mobile phone manufacturers in the Far East and Europe, and a number of phone designs are scheduled for volume production this year as camera phones with multimedia and games become the fastest growing cellular market segment.

The latest funding round was provided by existing investors Doughty Hanson Technology Ventures, Prelude Trust, ACT and TTP Ventures.

Commenting, Alphamosaic’s CEO Jalal Bagherli says: “This is our second full year of trading and customer demand for our technology is growing month on month, as are our revenues. This additional funding helps the company to strengthen its balance sheet and working capital position and to take advantage of the market upside opportunities.”

Soren Hein of Doughty Hanson Technology Ventures says: “Alphamosaic’s solution to the industry’s twin problems of battery life and image quality is gaining rapid acceptance among the company’s global customer base.

“Alphamosaic is rapidly establishing itself as the industry benchmark in the delivery of multimedia processor technology.”

Alphamosaic Ltd.

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