Avnera Raises $10M in Series D Venture Financing
Avnera Corporation, a Beaverton, OR-based develper of Analog System-on-Chip (ASoC) technology for consumer electronics devices, has closed a new $10m in a Series D round of financing.
Existing investors and also new investor Onkyo Corporation participate in the round.
Founded in early 2004, Avnera has raised $52m to date in four rounds of financing from Altien Ventures, Bessemer Venture Partners, Best Buy Capital, DAG Ventures, Intel Capital, Onkyo Corporation, Panasonic Venture Group, Polycom Corporation and Redpoint Ventures.
Onkyo and Avnera are jointly working on several products currently and expect to bring these products to market in the second half of 2010.
The company currently has more than ten ASoCs in mass production including the AudioMagic™ and VoiceMagic™ families. These ASoCs are powered by Avnera’s innovative IP portfolio of analog and audio technologies.
According to Avnera’s CEO, Manpreet Khaira, the company continues to execute well to its plan of enabling its customers to deliver differentiated audio products using its technology.
“We have tremendous support from our existing investors and are pleased to welcome Onkyo as a new investor.
“We expect to use the proceeds of series D to accelerate the company’s growth as a pre-eminent analog semiconductor company”, he said.