US-based fabless semiconductor company Zenverge closed a $26.5m round of series D financing on Monday, led by US-based semiconductor manufacturer Entropic Communications. Electronics industry newspaper EE Times reports Entropic’s investment to be $10m.
Corporate venturing unit Motorola Mobility Ventures, which is being acquired by search engine Google, venture capital firms DCM, Norwest Venture Partners, Battery Ventures and Woodside Fund, and private equity firm the CID Group made up the participants in the round.
Zenverge previously raised $30m for its series C round, in April 2010, from Motorola Ventures, DCM, Norwest and Battery. Zenverge’s earlier funding rounds, several of which took place under its old name of Xilient, raised $36.6m, with DCM and Norwest both contributing.
Wallace Pai, vice-president of corporate development and ventures at Motorola Mobility, said: "Zenverge offers leading-edge solutions for next generation media products, which aligns well with Motorola’s vision of enabling converged experiences for consumers and the connected home."
Zenverge plans to use the investment to accelerate growth and development, partly through working with Entropic on unified products for the paid television market.