Zenverge Closes $20.5M Series D Financing
Zenverge, Inc., a Cupertino, California-based developer of Advanced Media ICs, has closed a $20.5m Series D financing.
The round was led by fabless semiconductor company Entropic Communications, Inc. (NASDAQ: ENTR), with participation from new investors the CID Group and Woodside Fund and existing investors DCM, Norwest Venture Partners (NVP), Motorola Mobility Ventures, and Battery Ventures.
The company plans to use the funds to accelerate support and growth to expand adoption for its existing products, develop unified solutions for the cable, telco and satellite markets with Entropic and continue its development activities.
Led by CEO Amir Mobini, Zenverge develops Advanced Media ICs built around the patented ZEN architecture, a core technology to power next generation digital media devices such as HDTVs, Blu-ray recorders, set-top boxes, multimedia NAS devices, headless gateways, media streamers and movers, portable device adapters, PCs and network video equipment.
In conjunction with the funding, Mr. Patrick Henry, president and CEO of Entropic Communications, joined Zenverge’s board of directors.