US-based chipmaker Qualcomm’s corporate venturing unit has helped Tango, a US-based mobile video communications, raise $40m.
Qualcomm Ventures was joined in the series C round by Access Industries, the industrial holding company of Russian businessman Len Blavatnik. The round takes Tango’s total funding raised to close to $100m.
Nagraj Kashyap, vice-president of Qualcomm Ventures, said: "Qualcomm recognises the importance of video on mobile devices and has been working closely with Tango’s team to help enhance video quality and performance. Tango is a clear leader in this space and we are proud to play a role in helping boost the company’s growth."
The round was also invested in by co-founder Eric Setton’s family. Other Tango investors include ventur firm Draper Fisher Jurvetson, Michael Birch, the founder of social network Bebo, Andy Bechtolsheim, a co-founder of Sun Microsystems, and Bill Hambrecht, founder of bank WR Hambrecht + Co.