TZero raises $20M for ultrawideband chips

TZero Technologies, a Sunnyvale, Calif. wireless ultrawideband developer and chipmaker, is raising up to $20 million in a third round of funding, according to a financing documents sent to VentureBeat.

Ultrawideband is a wireless transmission technology with much higher speeds than WiFi, but it has not yet been significantly adopted by the market.

We reported in July of last year that the company was looking to take on $25 million more, so it appears that they’ve since dropped their expectations. The backers for this round are Lightspeed Venture Partners, US Venture Partners, OVP Venture Partners and Quilvest Ventures. Both Lightspeed and Quilvest are new investors, while a previous backer, August Capital, appears not to have joined the round.

The company previously took $43 million in two other fundings.

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