picoChip, a Bath, UK- and Beijing, China-based supplier of semiconductors and software for femtocells, has secured $20m in equity funding.
Existing investors Atlas Venture, Highland Capital Partners, Intel Capital, Pond Ventures, Rothschild, Samsung, and Scottish Equity Partners participated in the round.
The new funds will allow the company to support its expansion and strengthen its balance sheet.
As part of its growth plans, picoChip is hiring engineers at its development centers in Bath and Beijing, and will move to a new headquarters in Bath, UK. The company also intends to accelerate product development in key areas such as LTE, HSPA+ and self-organizing networks.
picoChip also announced that it “has passed the milestone of one million chips sold and is on track to achieve over 50%c quarter-on-quarter sequential revenue growth this calendar quarter”.
This growth is driven by the picoXcell™ product family, which is powering the global deployments of 3G femtocells.