Ubicom rakes in $7M for home networking processors

Processor provider Ubicom, known for making silicon chips used in consumer products like wireless routers, announced that it raised $7 million in a fifth round of financing from August Capital, Mayfield Fund, Levensohn Venture Partners, Lehman Brothers Venture Partners and Investcorp Technology Partners. This brings its total capital raised close to $140 million since its founding in 1996.

Also big news for Sunnyvale, Calif.-based Ubicom is the promotion of Gangesh Ganesan, formerly vice president of sales and marketing, to the chief executive post. The company has 83 employees.

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