Provigent announces $10 million funding round
System-on-a-chip (SoC) provider Provigent yesterday announced it has increased its third round of funding to $10 million, raising the company’s total funding to date to $21 million.
Added funding was attributed to Provigent’s 20 design wins, mainly generated by the success that the company’s PVG310 single-chip modem has enjoyed in the point-to-point microwave radio market. The additional funding came from Provigent’s previous third-round investors: Sequoia Capital, Pitango Venture Capital, Magnum Communications Fund, Ascend Technology Ventures, Delta Ventures and Andrew Viterbi, co-founder of QUALCOMM.
“In a short time, we’ve seen Provigent make significant strides to becoming a major provider of off-the-shelf silicon to the wireless transmission market,” Nechemia (Chemi) J. Peres, managing general partner and co-founder of Pitango Venture Capital, said in a prepared statement. “We’re pleased with the way Provigent is serving this growing industry segment and carving out a rewarding niche for itself.”