In August 2009, fabless semiconductor company California Ensphere Solutions received a $4m investment from Ideavelopers Ideavelopers, a high-technology investment firm, which operates in Middle East and manages Egypt’s first technology venture capital fund, ‘The Technology Development Fund’.
Commenting on the financing, Hessam Mohajeri, Chief Executive Officer of Ensphere Solutions, said: “Ideavelopers’ investment will help us to expedite our product development and rollout plans. In addition to financial backing, we can tremendously benefit from Ideavelopers’ experience and industry contacts”.
Ensphere Solutions is headquartered in Santa Clara, California with a design center in Cairo, Egypt.
The company develops and markets semiconductor products for various optical interfaces used in mainstream applications in communication, consumer electronic, and computing markets. In addition to chip-level products, Ensphere has offered design services and intellectual properties (IPs) to its strategic customers.