Mirics Semiconductor has completed a $12m (£6m) funding round in order to exploit new opportunities in its market.
A syndicate of private equity backers namely, Acacia Capital Partners, Intel Capital and Pond Venture Partners has backed the company.
Hampshire-based Mirics, which was founded in 2004, creates semiconductors, which enable mobile phones to received wireless and TV signals.
It says has had a successful 12 months and now wants to accelerate the speed of which it rolls-out its new products as well as boosting its engineering team.
Simon Atkinson, chief executive of Mirics Semiconductor, said: “Thanks to the additional investment from Acacia Capital Partners and the support of our existing investors, we now have the financial support and global commercial connections to drive the company forward and capitalize on our strong technology.
“As well as helping us to accelerate the roll-out of our product roadmap and expand our talented engineering team, the additional investment will enable us to extend the reach of our commercial and customer support organizations.
“This will ensure that Mirics can provide the best possible support to the many leading technology companies we’re already connecting with across Europe, the US and Asia.”
Chris Smart, general partner of Acacia Capital Partners, said: “Addressing the technological challenges involved in the implementation of mobile audio and video is a key industry focus.
“Mirics has technological innovations which we believe can help the global market segment for broadcast-enabled mobile handsets and portable devices to evolve and reach its full potential over the next few years.”
During its investment round Mirics was advised by Matt Rogers from technology investment banking company GP Bullhound.
© Crimson Business Ltd. 2007
