Provigent Secures $5 M

Provigent announced it has secured a credit line of $5 million from Plenus Venture Lending

June 7, 2006

1 Min Read

LOS ALTOS, Calif. -- Provigent, a leading provider of system-on-a-chip (SOC) solutions for the broadband wireless transmission market, today announced it has secured a credit line of $5 million from Plenus Venture Lending.

"This latest infusion of capital is further confirmation of Provigent's level of stability and maturity," said Provigent CEO Dan Charash. "The funding will help us continue to expand our customer base and accelerate the development and realization of our roadmap."

Provigent recently announced that the customer base for its PVG310 - a highly integrated single-chip modem specifically optimized for point-to-point radio systems - had surpassed 30 companies, including several top-tier firms. These customers represents more than a third of the point-to-point radio systems market.

"We were especially impressed with Provigent because of its broad and stable customer base," said Ruth Simha, a Plenus Venture Lending managing partner "The confidence of Provigent's customers in the PVG310 and the company's other products has been validated by recurring orders. With this growing acceptance and a well-planned roadmap for success, Provigent is positioned as the leading merchant silicon provider for the broadband wireless transmission market."

Provigent Inc.

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