Israel's Siano Mobile Silicon has been positioning itself for four years to help lead the onslaught of broadcast television on mobile devices, and with its $17.5 million third round, investors have endorsed what the company believes is a leadership position.
Israeli venture capital firm DFJ Tamir Fishman Ventures led the round, joined by previous investors Jerusalem Venture Partners, Star Ventures, Walden Israel, Bessemer Venture Partners and Inventec Appliances, bringing total venture investment in the fabless semiconductor manufacturer to $52 million. After specifically prospecting for a U.S. lead investor in its $23 million second round of March 2006 and landing Bessemer, the company threw the new round open to all comers and wound up with another local firm well-familiar with its rapid progress.
Siano was formed in October 2004 by chip industry veterans to target the emerging mobile television market, and had products available in late 2006 as deployments began heating up in Asia and Europe. The company's products are aimed at meeting the extremely small -form factor and low-power requirements for handheld devices, but also are built to accommodate all five of the leading technology formats used in different markets.
Siano co-founder and CEO Alan Ironi said that in addition to meeting size and power usage benchmarks, the company's products offer superior performance capabilities that help overcome the challenges facing all-or-nothing digital broadcast reception on the go. He said the company won a good increase in valuation based on its design wins, and the the new money will support volume production with its Taiwanese contractors.
Ironi said the company has yet to introduce a chip accommodating the sixth standard for use in North America, but expects to do so when mobile TV is closer to becoming a reality in that market. The company is clearly focused on being a player in the U.S., which is expected to develop into an enormous market. In addition to having Bessemer as an investor, Siano is registered as a Delaware corporation, and the company could have U.S. markets in sight for an IPO after hitting its goal of profitability within two years. - Clifford Carlsen
See Aug. 13 press release from Siano Mobile Silicon
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