BroadLogic Network Technologies, a San Jose, Calif. company that makes a video-processing chip that lets cable providers upgrade their networks to provide faster internet access and more high-definition television content, has raised a $17 million round of financing.
Comcast, the nation’s leading cable provider, led the round, which included cable operator Advance/Newhouse and existing investors Intel, Cisco Systems, Time Warner Investments, Levensohn Venture Partners, Rho Ventures, Walden International and Presidio.
According to the Consumer Electronics Association, 28 percent of homes have HDTVs, representing 35 million high-def sets in U.S. homes. The group predicts that another 16 million HDTVs will ship into the marketplace this year.
This company has soaked up a lot of money. The company was restarted in 2002, and has since raised more than $46 million in more funding. Prior to 2002, it had raised another $45 million.