AltoBeam Closes $6M Series D Funding
Monday, May 14th, 2012
BEIJING — AltoBeam, a fabless IC design company developing products for advanced DTV receivers, today announces that it has successfully closed a 6 million US dollars round of Series D funding, led by US Venture Partners (USVP). AltoBeam’s other existing investors, DFJ and DFJ DragonFund, Tano Capital, as well as Stanford Professor David Cheriton, participate in the round.
In 2011, AltoBeam enjoyed an over 80% TV and Set Top Box market share in DTMB/DVB-C demodulator shipment. The company’s flagship ATBM88xx demodulator families have been adopted by a significant majority of TV makers.
The additional investment raised in Series D, an oversubscribed round, will be used to fund the company’s rapid growth and product expansion.