Monday, November 26, 2007

Gigle Semi Raises $20 Million for Home Networking Chips

Gigle Semiconductor, a start-up based in Redwood City, California with operations in Barcelona and Edinburgh, raised $20 million in Series B funding for its "any wire" multimedia home networking solutions.

Gigle Semiconductor is developing system-on-chip integrated circuits for multimedia home networking over any wire -- powerline, coax and/or phoneline. The company said the market for multimedia home networking has taken significant steps towards the formation of a true standards-driven mass market in recent months. This is evidenced by the recent announcement that the joint proposal submitted by HomePlug Powerline Alliance member companies and Panasonic, is the sole MAC/PHY proposal remaining in the IEEE P1901 work group process for creating an international standard for in-home and access powerline communication technologies.

The round was led by a new investor, SEP. Existing investors, Accel Partners and Pond Venture Partners, also participated. The new funding will be used to support the development and launch of the company's next-generation multimedia home networking solutions.