Altair Semiconductor has raised $22 million in a third round of funding for its cell phone chips. The chips can process so-called 4G wireless technologies, such as WiMax, which brings both voice reception and high-speed Internet data connectivity to cell phones. The chips can also process LTE (Long Term Evolution) cell phone signals and XGP (a Japanese wireless technology) network calls.
The company's ALT2150 chip, a mobile WiMax processor, is in a variety of handsets already.
The company is based in Hod Hasharon, Israel and will use the new funds to support its global expansion. The funding shows that small chip companies focusing on a niche that no one else can handle can still get off the ground and get funding.
Japan's Pacific Technology Fund led the round and was joined by ETV Capital as well as existing investors. Altair previously raised $18 million in a second round in May 2007. While other rivals have focused on WiMax chips for laptops, Altair has focused directly on mobile devices. It faces a wide range of competitors, from Intel to Broadcom. The company was founded in May 2005.
To date, Altair has raised $48 million. Previous investors include Bessemer Venture Partners, BRM Capital, Giza Venture Capital, and Jerusalem Venture Partners.