Verizon Ventures, the corporate venturing unit of wireless communications provider Verizon Communications, has invested $5m in US-based broadband signal processing company Newlans, enabling it to close a $20m series B round.
Newlans reached a $15m first close for the round in February this year from investors including Intel Capital, semiconductor maker Intel’s corporate venture capital unit, aerospace company Lockheed Martin and private equity firm Paladin Capital.
Newlans develops semiconductor chips that facilitate front-end radio frequency communication between mobile devices. It previously raised $7m in September 2013, according to an SEC filing, following a $1.9m debt raise two months previously.
The company plans to use the money to further develop and commercialise its flagship product, the Programmable Duplexer.