Altair Semiconductor Raises $25 Million
Altair Semiconductor has raised $25 million in funding from existing investors Bessemer, Giza, BRM, and Pacific Technology. Altair is known for developing single-mode LTE chipsets. Altair plans on using the funding to strengthen their position in the single-mode LTE market and to build on their high volume product capabilities.
“As LTE networks reach coverage parity with 3G in key markets, carriers realize that removing 3G and adapting LTE-only is the most efficient way to significantly lower costs and increase mobile broadband attach rates,” stated Altair co-founder and CEO Oded Melamed. “Our month over month increase in chip shipments is a testament to the widespread move towards LTE-only across the industry and we intend to use the funds to support our customers as they ramp high volume production and deploy their products in the field.”
Based in Israel, Altair said that the cost of integrating LTE-only is much lower than LTE+3G. Since LTE-only connectivity is lower, it is a key factor for the enablement of widespread availability of cloud-connected devices. Altair rolled out their first low cost single-mode LTE chipset in 2009 and has released the first FDD/TDD chipset in the world. They also released the first commercial LTE chipset to exceed 100Mbps and the first chipset that was certified by Verizon Wireless’ 4G chipset certification program.
Altair’s products have been added into over 100 different tablets, laptops, portable hotspots, and routers through over 30 global customers.
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry