Amimon Inc. announced today it has raised $14 million in a second round of private venture funding. This brings the total investment in the company to more than $21 million. Amimon is developing a wireless video modem chipset for the transmission of uncompressed high-definition video streams with equivalent data rates of up to 3Gbps, which it plans to bring to market in the first quarter of 2007.
This second round was led by Stata Venture Partners of Boston. Other participants in this round include Argonaut Private Equity and previous investors Cedar Fund, Walden Israel and Evergreen Partners.
“Amimon's ability to distribute uncompressed wireless HD video streams with wired-equivalent quality is a strategic building block for the home multimedia network,” said Lee Barbieri, Managing Partner of Stata Ventures. “We decided to invest in Amimon due to the enormous market potential for its innovative technologies, its talented management team, its superior technology, and the significant traction it has made with major consumer electronics vendors.”
“This strategic investment will fuel our progress toward full production by early next year,” said Amimon chairman and CEO Dr. Yoav Nissan-Cohen. “The major players in the consumer electronics market, including TV, projector, flat panel display and set-top box manufacturers, are excited about the many new applications enabled by our wireless HD technology.”
Amimon operates out of offices in Herzliya, Santa Clara, California, and Tokyo, and is funded by Cedar Fund, Walden Israel Venture Capital, Evergreen Partners, Stata venture Partners and Argonaut Ventures.
Published by Globes [online], Israel business news - www.globes.co.il - on August 14, 2006
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