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Semiconductor chip company Quantenna Communications has closed a $21 million fifth round of funding, the company announced today. The Fremont, Calif.-based company enables consumers to wirelessly stream high-definition video to home devices.
Quantenna improves data transfer speeds across long distances to 100 megabits per second over 100 to 150 feet. This lets consumers reliably stream videos from Netflix or games from online game service OnLive, which announced its Wi-Fi beta this month. CEO David French said consumers can also use the technology to support digital video recorders or DVRs, which typically play videos only on a single TV. With Quantenna’s technology, users will be able to play videos from one DVR on any TV in the house.
Quantenna’s chips are currently used in Switzerland by Swisscom, a Swiss telco and an investor in the company, and Quantenna will soon sell chips directly to consumers through Netgear. The company is also in talks with U.S.-based service providers and hopes to finalize multiple deals within a year.
The latest round of funding was led by new investor DAG Ventures with participation from Sequoia Capital, Sigma Partners, Southern Cross Venture Partners and Venrock Associates. Quantenna plans to use the funding to expand its customer base, and French said he expects to see “substantial revenue” early next year. The company is primarily focused on consumer applications for now but plans to explore enterprise opportunities in 2011.
Founded in 2006, the company last raised $17 million in February and has raised more than $80 million to date.
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