Altair Semiconductor, a Hod Hasharon, Israel-based developer of ultra-low power, small footprint and high performance LTE chipsets, has completed a $26m round of funding.
The round was led by Jerusalem Venture Partners (JVP), with participation from existing investors BRM, Bessemer Venture Partners, Giza Venture Capital and Pacific Technology.
Led by Co-Founder and CEO Oded Melamed, Altair has developed products (based on the proprietary Software Defined Radio (SDR) processor, “O2P™”) that provide device manufacturers with the possibility to integrate 4G LTE technology into their products.
The company intends to use the funds to expand its worldwide sales and customer support activities as well as advance the development of its LTE solutions. After launching in Poland and Germany, Altair plans to extend in several key markets around the world, including India, China, Japan, Europe and the United States, where the company operates an office (Plano, TX).