Quantenna Communications raises $79million
Fabless semiconductor company Quantenna Communications has closed a $79million funding round led by new investors Rusnano and Bright Capital.
Rusnano will invest up to $40m, while Sequoia Capital Growth Fund will contribute $20m. Existing investors DAG Ventures, Grazia Equity, Sigma Partners, Southern Cross Venture Partners and Venrock Associates also participated in the round.
Quantenna's 4x4 MIMO 802.11n chipsets allow service providers to distribute hd and 3D video over WiFi. The funding will be used to expand the engineering and service organisations and support the growing list of service providers deploying these chipsets.
The funding will also accelerate product development as Quantenna enter new market segments.
Dr Sam Heidari, ceo, Quantenna, said: "Our video over WiFi chipsets are on their way to penetrating new markets this year beyond the service provider segment. The round also enables us to expand our presence in Russia with the addition of a team of highly qualified specialists."
