October 4, 2001 — (WEB HOST INDUSTRY REVIEW) — NxtWave Communications Inc. (nxtwavecomm.com), which designsand markets broadband-communications integrated circuits, announced that ithas concluded the first tranche of its fourth equity round, in which $12.5million in venture capital was raised.
The investment round included additional investment by its precedingequity-round investors Anadigics Inc., C.E. Unterberg Towbin CapitalPartners, Intel Capital, Millennium Technology Venture Partners, MitsubishiInternational Corp., MC Capital Inc., MC Silicon Valley Inc., Oak InvestmentPartners, Venture First Associates and Whitney & Co. Also participating inthe financing were Alps Electric Co. Ltd., NEC Corp. and The Walt Disney Co.Further financial details of the investment were not disclosed.
The latest funding will be used to finance company growth through a numberof business activities including the development, introduction and marketingof new products for digital television. Funds raised will also be used forgeneral corporate purposes.
“With the funds and the world-class engineering team we have assembled atNxtWave, our goal is to continue to be a leading supplier for digitaltelevision markets globally,” said Matt Miller, president and CEO of NxtWaveCommunications. “Our NXT2002 VSB/QAM demodulator, our NXT6000 COFDMdemodulator, our proposed improvements to the VSB transmission standard andnew products planned for introduction this year will all help keep NxtWaveat the forefront of the worldwide transition from analog to digitaltelevision.”
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