Investors stump up more cash for mobile TV
Investors have ploughed another $17.5 million into mobile TV chip maker Siano Mobile Silicon, taking the total investment in the Israeli firm to $52 million over three rounds. The investment comes despite uncertainty over the prospects for mobile TV.
Investors included leading venture-capital companies such as DFJ Tamir Fishman Ventures (DFJTFV), the Israeli partner of Draper Fisher Jurvetson that led the round, and all the investors from previous rounds: JVP, Star Ventures, Walden Israel, Bessemer Venture Partners, and Inventec Appliances.
The money will be used to expand sales and customer support, build chips and continue research and development.
Siano has spent the last year opening offices in Korea and Japan, as well as launching a receiver chip that is being used in the mobile TV service offered at the Olympics Games. Siano has also broadened its product offering to support ISDB-T, the mobile TV broadcasting standard used in Japan and Brazil, as well as DVB-T, DVB-H and T-DMB.
"The consumer market is starting to fulfil the vision that gave birth to Siano back in 2004, that within just a few years, practically every single non-tethered consumer device with a colour LCD would include a digital TV function", said Alon Ironi, CEO of Siano. "We are witnessing massive embedding of our products into a surprisingly wide range of devices, from mobile phones and notebooks to navigation devices, portable media players and even boom-boxes and digital photo frames."