Israeli fabless semiconductor startup Percello Ltd. on Tuesday said it completed a $12 million Series B round. The round was co-led by Granite Ventures and Israel-based Vertex Venture Capital. Also participating as a strategic investor is T-Mobile Venture Fund of Germany. The money will be used primarily to complete product development and to initiate sales and marketing activities.
Percello is developing baseband processors for the 3G and LTE (long term evolution) broadband standard femtocell markets. A femtocell is a small cellular access point typically designed for use in residential or small business environments and is considered a next-generation mobile network architecture.
Percello has now raised $18 million, including $6 million in Series A financing last year in a round led by 7-Main Ltd. -- David Shabelman
See Sept. 9 press release from Percello
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