iBiquity Digital Corporation is a company that develops HD radio technology.  It gives radio signals better sound quality and less static.  The company has been working on better radio technology on cars and households for several years now.

According to a filing with the Securities and Exchange Commission, iBiquity has raised $42 million in funding from investors such as Grotech Ventures, CBS Radio, Radio One Inc., Entercom Communications, FirstMark Capital, New Venture Partners, Union Square Ventures, and Clear Channel Radio.  This round of funding puts iBiquity at over $172 million in total funding over the last decade.

[via BizJournals]