CrestaTech Secures $13M to Develop Smart Tuners for TV and Mobile DevicesMonday, April 30th, 2012
SANTA CLARA, Calif. — CrestaTech today announced it has secured a $13 million round of funding. The investment will be used to accelerate development of Smart Tuner™ ICs for the fast-growing market of Smart TV devices. The investment was led by Bechtolsheim Ventures, Benhamou Global Ventures, Sofinnova Ventures and AVM Capital LP.
“This new funding round enables us to deliver a next-generation global Smart TV platform with several new Smart Tuner™ product releases this year,” said George Haber, CEO of CrestaTech. “Our products enable a single global platform for the TV of the future that is adaptable to support the cloud services, applications and feature sets found in mobile devices.”
Originally pioneered and marketed under the Xceive brand, the CrestaTech patented Smart Tuner™ architecture features an RF tuner and a programmable DSP. A variety of leading flat panel TV makers have adopted Xceive Smart Tuners™ and have led the trend towards the elimination of bulky mechanical CAN tuners of the past.
“The flexibility and customization aspects of our silicon tuner ICs have resonated with manufacturers who are globally deploying the technology in high performance TVs,” said Mathew Lewis, CFO of CrestaTech. “This new investment will allow us to further penetrate the TV market with even higher levels of performance, integration, ease of use and affordability.”
By investing in the Smart Tuner™ product line and leveraging CrestaTV programmable broadband technology, CrestaTech is well positioned to further penetrate the 500 million unit TV/STB market and expand into smart devices like smartphones, tablets and media players.